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


New Delhi, Dec 5 (IANS): Freight rates for mining, cement, and steel have seen some corrections on-month in November as infrastructure-building activities were subdued, ratings agency Crisil 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, freight rates essentials such as 'FMCG/FMCD' (fast moving consumer goods and fast moving consumer durables) remained relatively "resilient" in November.

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

 

  

Top Stories


Leave a Comment

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



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image