Moody's: Asian steel companies' profit margins to fall by 5% by 2020
Kaustubh Chaubal, a Vice President at Moody's Investors Service, said in a report that the profitability of rated Asian steelmakers will fall another 5% next year after falling by about 25% in 2019 due to weak demand, falling steel prices and high iron ore prices.
Demand from real estate and manufacturing will limit growth in steel consumption in China, while steel use in India will slow due to weak demand for cars and manufacturing, and steel demand in Japan and South Korea was also expected to weaken.
