Steel demand to grow 9% in FY12, prices to stay flat

Domestic steel demand is expected to grow at about nine per cent during the current fiscal, a top Tata Steel official said here on Friday. 

"It is expected that GDP growth will be about seven per cent and the steel demand would be around nine per cent," Tata Steel managing director H M Nerurkar said. 

He expects steel prices to remain stable with prices going up or moving down by Rs 1,000 per tonne for some time. "India will remain a net importer of steel despite concerns on growth in other markets," he said. 

Fresh capacities are not coming as greenfield projects remain a challenge, Nerurkar said indicating at issues like land procurement and raw material linkages. 

Reacting to the draft land acquisition bill, Nerurkar said that though he had not gone through it he expected some role of state governments in land acquisition. 

"We can't say the government will have no role. Then there is going to be an issue. All the records are with the state government so how will it say I will not be part of it?" he said.

Share this:

About Jessica Priston

Ut tellus dolor, dapibus eget, elementum vel, cursus eleifend, elit. Aenean auctor wisi et urna. Aliquam erat volutpat. Duis ac turpis. Integer rutrum ante eu lacus. Vestibulum libero nisl, porta vel, scelerisque eget, malesuada at, neque. Vivamus eget nibh. Etiam cursus leo vel metus. Nulla facilisi. Aenean nec eros.

  • Website
  • Google+
  • Rss
  • Pinterest
  • Instagram
  • LinkedIn
  • Vimeo
  • Youtube
  • Flickr
  • Email

Related News

  • Cashback site Cashkaro now offers restaurant discounts

    India’s e-commerce market looks large and lucrative enough from the outside, but insiders know it is very challenging. In fact, the number of e-commerce sites and businesses is growing so fast here today that the competition is cut-throat. This

  • What is Viscose Material? Advantage and disadvantage of viscose.

    Viscose is a unique form of wood cellulose acetate used in the nnmanufacture of a number of different products. This includes items for nnthe medical industry, though it is perhaps most common as a major nningredient in the production of the fabric r

  • Honda launches new CBR 250R bike
    Honda launches new CBR 250R bike
    July 01, 2014 5:50 am

    New Delhi: Honda Motorcycle & Scooter India (HMSI) launched a new edition of its global sports performance bike CBR 250R priced between Rs 1.56 lakh and Rs 1.86 lakh (ex-showroom Delhi). The 2013 edition CBR 250R is available for sale across a

  • Zara has opened store at Ambience mall, Gurgaon

    Zara, has opened its new store at Ambience mall, Gurgaon. Spread over 28,000 sq.ft. across two floors the store has taken the space earlier occupied by Debenhams. With this Zara now has twelve stores in India. It is present in 86 countries with