Orissa’s iron and steel industry performance dips

June 21st, 2009 - 7:11 pm ICT by IANS  

Bhubaneswar, June 21 (IANS) The iron and steel industry in Orissa has recorded negative trends in its performance parameters between October 2008 and March 2009, compared to the previous two quarters of 2008-09, an industry report released Sunday said.
“There has been a decline in the industry’s production by 10-12 percent,” the first bi-annual industry monitor report by the regional chapter of the Confederation of Indian Industry (CII) said.

“Sales (fell) by up to 10 percent, exports by 5-10 percent, capacity utilisation levels by 10-15 percent, value of production by 10-12 percent, and inventory levels by 8-10 percent during the period,” the CII report added.

According to the industry lobby, one of the major factors that impacted growth in the sector was declining demand.

“The price levels declined by 9-10 percent and profit margins by up to 12 percent during the period and the level of employment has come down by up to 5 percent during the period,” it said.

“The sector predicts downward trends in different parameters of industrial performance during April-September 2009.”

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