Secondary long steel makers likely to see 7% rise in FY25 revenues: CRISIL

Producers of long steel products in the secondary sector are expected to see a 7 per cent growth in their revenues in the ongoing financial year, Crisil Ratings said on Thursday.Secondary steel makers produce recycled products using electric arc furnace (EAF) and induction furnace (IF).Secondary steel players witnessed 4 per cent rise in their revenues in preceding 2023-24 fiscal year, the ratings agency said in its report."Secondary long steel producers will see revenue grow 7 per cent this fiscal, up from 4 per cent last fiscal, riding on robust domestic demand fuelled by central government spending on housing and infrastructure," it said.This fiscal, the central government's spending on rural and urban housing and infrastructure projects, particularly under Pradhan Mantri Awas Yojana and the National Infrastructure Pipeline, will sustain demand. The uptick seen in the first half of the fiscal will pick up pace in the second half.Rahul Guha, Director, Crisil Ratings, said: