Steel companies to ride export uptick, report volume recovery in fourth quarter

Market watchers expect  a sequential improvement in the operational performance of steel companies in Q4FY23 when numbers are reported in the next few days. In FY23, steel exports declined by around 50 percent as a reflection of export duties that were imposed between May and November 2022. But during the past quarter that channel has reopened, which would aid some recovery in volumes. Besides that, the margin improvement will be led by higher prices and lower to flat coal prices.