Steel Output in India May Drop on Australian Floods

Bloomberg.com reports that Indian steel production may be affected by Australian flooding.

The story is quoted as saying:

Stoppages in coal shipments from Queensland state under force majeure clauses are likely to create a shortage in the April-to-June quarter, forcing steelmakers to lower production, RBS Equities analyst Rahul Jain said, without giving estimates. Steelmakers may also raise prices to cover cost increases, said Rakesh Arora, an analyst at Macquarie Group Ltd. in Mumbai

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