Speaking about the chances of an uptick in steel demand, JSW's
joint MD and group CFO, Seshagiri Rao
says that the situation is on the mend with demand picking up and supplies of
iron ore almost back on track. The stock with both producers and users is low
and that's why there has been a slight uptick in international steel prices.
There has been some revival, some buyers are coming back. So
we expect demand growth in India for the fiscal to be at around 5%, he added
further.
When asked about the improvement in steel prices globally he
said, “Steel prices will improve with demand. There are good signs coming from
the US, Japan is back in reconstruction mode and China, despite a slowdown, is
doing relatively well. So we expect the second half of 2012 to be better in terms
of both demand and prices”.
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