Elevated coal price a drag on margins of domestic base metal players: ICRA

The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICRA NSE -1.48 % said on Thursday. In a recent note on the primary base metal industry, ICRA said that the earnings of the industry would continue to remain under pressure in the second half of the current fiscal, following a dull performance in the first half of FY’23.

“Elevated coal costs along with metal price corrections remain the key headwinds affecting the margins, with no immediate relief in sight,” ICRA said in a statement.