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Indian steel demand growth could touch 8pct

Mr Anil Kumar Chaudhary, Chairman, SAIL in an interview with BusinessLine is confident about steel demand prospects in the country. He told BL “For us, demand has been good and I do not see it slowing down in futures. More than the demand, the threat of imports is major concern. Imports in the first nine months of the fiscal is at par with what was shipped in last fiscal. Falling steel prices due to excess production in China is another concern. Some people in India are taking advantage of the situation in China and demand lower price in India. It is not possible because the raw material prices are high here. India should clock a demand growth of over eight per cent this fiscal.”

Addressing slow down in elections, he said “Yes during this time demand slows down. However, a spurt in construction activities is expected which could lead to a slowdown in government spending. Traditionally, steel demand goes up during the last four month of the financial year.”
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