Indian steel demand likely to go up by 7% next year- Tata Steel

In 2013-14, steel demand in India is expected to be higher at around seven per cent, says H.M. Nerurkar, Managing Director, Tata Steel.

“Reforms announced by the Government will provide a fillip to growth in the economy. With the general expectation of modest growth globally and sustained raw material prices, we expect steel prices to firm up and be stable in the year ahead,” he told.

In the financial year 2012-13, growth in domestic steel demand is expected be around five-and-a-half per cent.

Total demand is expected to be around 75 million tonnes (mt), up from 71 mt in 2011-12.

Source:The Hindu