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Metal stocks slump as Moody's turns negative on Asian steel companies

Aug 28, 2019 11:57 IST

Moody's has changed it's outlook for Asian steel producers to negative. The revision is based on weaker profitability that's been hit by rising input costs . Moody's says it expects limited impact from the US tariffs on steel imports. It also believes Indian steel demand will remain the strongest in the region but growth will  dwindle to a mid - single digit clip. 

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