Mumbai, Sept. 13 -- The wider economic slowdown is not likely to spare the domestic steel industry, with three credit rating agencies raising the alarm on falling profitability at steel mills. Profit margins for steel companies are expected to get further squeezed between weakening domestic steel consumption and a weak outlook for global growth amid escalating trade war tensions, ratings agency Icra said in a report on Wednesday, 4 September. Over the last four quarters, operating profit margins of the domestic steel industry have been on slippery ground, declining steadily from 22.6% in Q1 FY19 to 18.2% in Q1 FY20. This downward trend in profitability is expected to continue in Q2 FY20 as well, according to the latest Icra report on the st...