Indian steel demand is expected to grow by 9% to 10% in the next fiscal year that starts April 1, helped by economic recovery and higher government spending on building roads and ports.
Mr SK Roongta chairman of Steel Authority of India said that he expects prices for flat products used mainly for building automobiles and consumer durables to remain at current levels.
Mr Roongta told Dow Jones Newswires that "This year, we expect industry demand to grow 8% while next fiscal (year) the infrastructure sector and general construction are likely to boost demand further.”
Industry and government officials had earlier said steel demand would likely rise 9 per cent in the current fiscal year through March 31 because of government spending on infrastructure and rising sales of automobiles.
(Sourced from http://www.steelguru.com/news/index/2009/11/11/MTE5NzMz/SAIL_chairman_sees_pick_up_in_steel_demand_next_fiscal_year.html)
Wednesday, November 11, 2009
SAIL chairman sees pick up in steel demand next fiscal year
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