Subdued demand reduced freight rates for mining, steel in Nov: Crisil

for mining, cement, and have seen some corrections on-month in November as infrastructure-building activities were subdued, ratings agency said.

However, the fall in rates is not significant in comparison with the reduction in duties for diesel.

“But this correction is not significantly more than the fall in diesel price in the case of cement. The situation needs to be monitored for the next one-two months,” it added.

The Centre on November 3 reduced excise duties on petrol and diesel by Rs 5 and Rs 10, respectively. Taking cues from the Centre, some states too followed suit.

Notably, since November 3, prices of diesel across the country have been largely steady.

On the other hand, essentials such as ‘FMCG/FMCD’ (fast moving consumer goods and fast moving consumer durables) remained relatively “resilient” in November.

“After the festive stock-up, for discretionary goods such as auto carriers and textiles are seeing more pressure compared with other sectors,” the agency said.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button