Indian steel giant Tata Steel forecasted that its sales would rise in the fiscal year 2013/14 (during April 1st, 2013 through March 31st, 2014), stimulated by increased demand. It’s learned that steel demand from India and Europe decreased due to debit crisis in euro zone and austerity measures in India. In addition, the steelmakers’ profits were squeezed by high raw material prices. In the second quarter of fiscal year 2012/13, Tata Steel posted a net loss of INR3.63 billion, slumping from a net profit of 2.12 billion in the same period of a year ago. Tata Steel expected that the growth rate of the European steel demand would increase to 2.5% this year. Also, Indian steel demand would be improved by the country’s reformation.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62444&division=A6
