KUALA LUMPUR: Asian steelmakers' profitability will remain low by historical standards, weighed down by oversupply, China's moderating growth rate and still elevated input costs, according to Moody's Investors Service.
In its report issued on Tuesday, the ratings agency said while prices for iron ore and coking coal have fallen since end-2011 as a result of the slowdown in the global economy and steel demand, they would remain elevated relative to their historical levels because of tightness in supply.
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