According to study report of CARE Research, India’s steel demand could have annual growth by 6.7 % until financial year 2016-17, which is faster than the expected growth in Chinese during the same period.
In line with domestic steel demand, the steel production in the country also recorded a similar increase during the same period.
In the period, the domestic demand of flat products is likely at a stable pace along with the automobile and pipe sector, while long products will continue to increase on the back of modest growth from the construction sector.
The report also said global steel capacity is expected to add another 130 million tons within the next 3 years while consumption growth might increase about 120 million tons in the same period.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62621&division=A6
