ET reported that supported by robust demand from auto and consumer durable sectors Indian steel consumption saw 4% YoY growth in August 2009.
According to the provisional data of Indian steel ministry, steel consumption rose to 4.59 million tonnes in August 2009 as against 4.41 million tonnes in August 2008.
The steel ministry is awaiting final steel growth data, and hopes to see some correction in August production figures.
Mr PK Rastogi secretary steel said that “Demand was at its peak in August last year, and growth in consumption in August this fiscal is a clear indication that things are looking up for the steel sector. The rising price of flat steel products is also an indicator that that demand is strong,”
He added that “Demand outlook for the metal is strong in the coming months with strong signs of an economic recovery. We expect steel demand to reach touch double digit mark of 10% by the end of the current fiscal.”
(Soured from http://www.steelguru.com/news/index/2009/09/10/MTExMDE2/Indian_steel_consumption_rises_4pct_YoY_in_August.html
Thursday, September 10, 2009
Indian steel consumption rises 4pct YoY in August
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