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Steel News April 12, 2021 02:55:53 PM

Steel Companies to Witness 50% Revenue Surge in Q4 Fiscal 2020-'21

Paul Ploumis
ScrapMonster Author
The analysts noted that robust domestic steel demand coupled with healthy exports led to increased production and sales growth in Q4, on a sequential basis.

Steel Companies to Witness 50% Revenue Surge in Q4 Fiscal 2020-'21

SEATTLE (Scrap Monster): According to leading analysts, the revenues of steel companies are poised to surge higher by up to 50% from a year before during the fourth quarter of fiscal year 2020-’21. The sequential quarterly jump in revenues is projected at 20%. The growth forecasts are mainly on the back of higher realizations and boosted demand for steel products, especially from construction and real estate sector.

The analysts noted that robust domestic steel demand coupled with healthy exports led to increased production and sales growth in Q4, on a sequential basis. As per the report published by Crisil Research, the realizations are set to witness 27% year-on-year surge. It also noted that domestic flat steel prices have increased by nearly one-third from Q4 last year. The prices are likely to remain elevated in the near-term, it said.

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