Steel demand to increase in Indian market this quarter- JSPL

Jindal Steel and Power Ltd, director and CFO, Mr Sushil Maroo,stated in an interview given to a private news channel that steel demand to pick up in third and fourth quarter on improved construction activities.

“Normally 2nd quarter is rainy quarter and it is very difficult to sell steel because the demand and the construction activity is low. Most of the projects go slow in their activities.In the first half of the current year, interest rate was very high. There was liquidity concern in the market. Most of the projects did not have liquidity with them; they needed steel, but didn't have money, so they were not picking up steel. In the third and fourth quarter demand picks up.”said Mr Maroo CFO, JSPL.