Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: 4.8
Article rating: 5.0
Article rating: 3.0
Article rating: No rating
Article rating: 5.0
Article rating: No rating
Article rating: No rating
Article rating: 4.5
Article rating: No rating
Article rating: No rating
Article rating: 4.2
Article rating: 5.0
Article rating: 4.0
Article rating: No rating
Article rating: No rating


’Steel demand to grow 10-11% annually over next 3 yrs’

Author: PTI/Monday, August 13, 2018/Categories: Iron & Steel

’Steel demand to grow 10-11% annually over next 3 yrs’

New Delhi - Demand for steel in India is likely to see an annual growth of 10-11% over the next three years, buoyed by a firming trend in the construction sector, among other factors, an official said.

"Going forward we have the potential of domestic steel demand growing at 10-11% for another three years consequently if nothing extraordinary happens. But in normal circumstances I would expect that," Joint Plant Committee(JPC) Chief Economist A S Firoz told PTI.

Domestic steel demand grew at 8% in the first quarter of 2018-19, he said.

"Given the kind of movement that is happening in the industries which consume steel, given the kind of momentum that has been built up in the construction industry...all this will raise steel demand significantly," he said.

He noted that industries like two-wheeler and auto are getting shaped up that will raise domestic steel demand in a big way.

Replying to a question, Firoz said the global trade conflict will not have any immediate impact on the Indian steel market.

US President Donald Trump has imposed 25% import tariff on steel and 10% on aluminium.

However he said there are few constraints to steel production.

"One kind of constraints is that we may not have the kind of products that are in demand, there might not be domestic capacity. So when you don't have domestic capacity, you have a problem of meeting those demands. Imports will come in," he said.

World Steel Association had earlier said that in India, steel demand is expected to accelerate gradually, mainly driven by public investment.

Empowered by Ministry of Steel, JPC is the only institution which collects data on the Indian iron and steel industry.

Print Rate this article:
No rating

Number of views (189)/Comments (0)

rajyashree guha


Other posts by PTI
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free