Steel prices face risk from China imports, tariff pressures: Fitch

Indian steel prices will face pressure in the upcoming fiscal year as local mills grapple with cheaper imports from China and rising risks from aggressive tariff policies, Fitch Ratings said on Tuesday.

- Reuters

The agency reduced its headroom for ratings upgrades for India's top steelmakers by market cap - JSW Steel, currently rated "BB" with stable outlook, and Tata Steel, which it rates "BBB-" with a negative outlook.

Steelmakers in China, the world's largest producer of the alloy, have been grappling with generating profits as a prolonged property downturn has hit consumption, leading to higher exports to countries such as India.