IFGL profit hit by Chinese steel exports

By Liz Gyekye
Published: Monday, 10 August 2015

Chinese activity in the steel market is hurting the Indian firm’s refractories operations in the US and partly contributed to its fall in profit for Q1 of fiscal 2016. Yet, the company is optimistic about its long-term growth and maintains that it will benefit from India’s increased steel output and infrastructure spend.

India-based IFGL Refractories Ltd has reported a drop in net profit by 17.4%, or Indian rupee (INR) 152m ($2.38m*), for the quarter ended 30 June 2015, owing to a slowdown in its US ceramics business, a lack of demand for steel in Europe and a slight downturn in the value of the Indian...

This is a preview of the full article

Our market news and price data is reserved for registered users only.

Current customer? Login now

All of our industrial minerals price data and news is now available only through our new platform. Learn more about the intelligence we offer by visiting our Fastmarkets flagship website. If you are familiar with our reliable and trusted intelligence, fill out a request a quote form today to hear from our friendly sales staff who will create a custom license for you.


Interested in lithium prices? We now offer lithium prices and coverage free for reference. Click here to read all about it.

Interested in the wider electrification market?
Join our growing community of participants who want to learn more about electrification and how this market is developing.