Comprehension
Read the passages below to answer the questions that follow each passage.
Buoyed by strong demand from automobile, infrastructure, consumer durables, and capital goods industries, the price of steel and profitability of steel firms are firming up. In addition to private demand, the government's stimulus packages have also helped. Analysts expect the margins of steel companies to expand by 500 basis points in the quarter ending December last year, because of the rally in the base metal prices. Crude steel production in the quarter ended December last year grew \(2.6\%\) and prices increased by \(2\%\) in the same period. Broadly, during April- December 2009, steel consumption grew by 8% and growth gathered momentum during the last three months partly due to the low base effect of the previous year. In fact, Indian steel- makers had reduced production by up to \(40\%\) in October- December 2008, as demand dropped significantly due to the slowdown and credit crunch. Even though fears of oversupply kept steel prices under pressure in the domestic market globally, too, companies had reduced the price of the metal-strong demand is now pulling up prices. Long product prices increased by nearly Rs 4,000 per tonne in the second half of December and analysts expect prices to rise by another Rs 1,000 per tonne this month. Even on the bourses, Tata Steel, JSW Steel. Sterlite and SAIL have outperformed the broader markets with gains of around \(55\%\) in the quarter ended December and the BSE Metal Index too outperformed the Sensex. Despite the global slowdown, demand for steel in the domestic market remained strong due to the quick recovery in the automobile industry and government spending on infrastructure projects. In fact, a recent note from Nomura Research says that steel companies in India have enjoyed high operating rates resulting in robust performances. Even globally, the World Steel Organisation says that the slump in steel demand has bottomed out and is expected to grow by \(9\%\) this year as demand rebounds in the US, Europe and Japan. The organisation expects steel prices to increase by \(10\%\) in the next three months and inventory build-up will take place in anticipation of an increase in raw material costs.
Buoyed by strong demand from automobile, infrastructure, consumer durables, and capital goods industries, the price of steel and profitability of steel firms are firming up. In addition to private demand, the government's stimulus packages have also helped. Analysts expect the margins of steel companies to expand by 500 basis points in the quarter ending December last year, because of the rally in the base metal prices. Crude steel production in the quarter ended December last year grew \(2.6\%\) and prices increased by \(2\%\) in the same period. Broadly, during April- December 2009, steel consumption grew by 8% and growth gathered momentum during the last three months partly due to the low base effect of the previous year. In fact, Indian steel- makers had reduced production by up to \(40\%\) in October- December 2008, as demand dropped significantly due to the slowdown and credit crunch. Even though fears of oversupply kept steel prices under pressure in the domestic market globally, too, companies had reduced the price of the metal-strong demand is now pulling up prices. Long product prices increased by nearly Rs 4,000 per tonne in the second half of December and analysts expect prices to rise by another Rs 1,000 per tonne this month. Even on the bourses, Tata Steel, JSW Steel. Sterlite and SAIL have outperformed the broader markets with gains of around \(55\%\) in the quarter ended December and the BSE Metal Index too outperformed the Sensex. Despite the global slowdown, demand for steel in the domestic market remained strong due to the quick recovery in the automobile industry and government spending on infrastructure projects. In fact, a recent note from Nomura Research says that steel companies in India have enjoyed high operating rates resulting in robust performances. Even globally, the World Steel Organisation says that the slump in steel demand has bottomed out and is expected to grow by \(9\%\) this year as demand rebounds in the US, Europe and Japan. The organisation expects steel prices to increase by \(10\%\) in the next three months and inventory build-up will take place in anticipation of an increase in raw material costs.
Question: 1
According to the passage,
A. Steel industry in India has done very well in the last one year.
B The demand for steel has seen a decrease in the last one year.
C. During 2008 the demand for steel had gone down due to slowdown.
D. Government spending on infrastructure has helped the steel industry in India.
According to the passage,
A. Steel industry in India has done very well in the last one year.
B The demand for steel has seen a decrease in the last one year.
C. During 2008 the demand for steel had gone down due to slowdown.
D. Government spending on infrastructure has helped the steel industry in India.
A. Steel industry in India has done very well in the last one year.
B The demand for steel has seen a decrease in the last one year.
C. During 2008 the demand for steel had gone down due to slowdown.
D. Government spending on infrastructure has helped the steel industry in India.
Updated On: Oct 10, 2024
- A,B,C and D are Correct
- A,B and D are correct
- A,B and C are correct
- A and D are correct
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The Correct Option is D
Solution and Explanation
In this question, Statements A, C and Dare correct, while Statement B is incorrect, as can be seen in the given passage. Statement B is incorrect because the demand for steel has seen an increase in the last one year.
The correct option is (D)
The correct option is (D)
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Question: 2
The passage infers that
The passage infers that
Updated On: Oct 10, 2024
- The slowdown in the world economy has drastic effect on steel industry in India.
- the demand and supply position of steel in India was very healthy during recession.
- steel prices have been slashed in the last quarter.
- the share prices of steel companies have been on the decline in the last quarter.
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The Correct Option is A
Solution and Explanation
The slowdown in the world economy has a drastic effect on steel industry in any country, and in this case, India. Although not very explicitly mentioned in the given passage, the hint of the logic can be tracked from the last two sentence of the passage. Apart from the first option, other options are abosolutely absurd.
The correct option is (A)
The correct option is (A)
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Question: 3
The recession caused
The recession caused
Updated On: Oct 10, 2024
- the demand for steel to go down all over the world.
- the demand for steel to go down drastically in India.
- the construction activity to increase.
- the automobile industry to increase their sales.
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The Correct Option is A
Solution and Explanation
The whole passage talks about single point, that recession caused the demand for steel to go down. With improvement in overall economy, steel industry has also recuperated.
The correct option is (A)
The correct option is (A)
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Question: 4
Which of the following statements is false?
Which of the following statements is false?
Updated On: Oct 10, 2024
- In the second half of December the steel rates have increased by Rs 4,000 per tonne.
- In this January the steel rates would have gone up by another Rs 1,000 per tonne.
- Sensex has outperformed the BSE Metal Index.
- During April-December 2009 the steel consumption has increased by 8%.
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The Correct Option is C
Solution and Explanation
Option (c) is the right answer because what's witten in this option is totally opposite to what has been claimed by the last sentence of the second paragraph.
The correct option is (C)
The correct option is (C)
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Top Questions on Reading Comprehension
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THE FAIR ISLE METHOD: Fair Isle knitting is a traditional technique that involves using two or more colours of yarn in a single row to create intricate patterns and designs. This method requires careful tension management to ensure even stitches and prevent puckering. To begin, select your colours and cast on the desired number of stitches. As you knit, alternate between colours every few stitches, carrying the unused yarn along the back of the work. Mastering the Fair Isle technique allows you to create stunning visual effects in garments, accessories, and home textiles.
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