New Delhi: Tata Steel Ltd may partly roll back its recent production cut at UK subsidiary Corus, as there are some signs of a demand revival in Europe, Tata Sons director J.J. Irani told ‘NewsWire18’.
”Global steel demand has not yet improved considerably but we are seeing some signs of an industrial revival in Europe. If this trend continues, we will look at rolling back output cut at Corus,” he said.
Irani said he also suspected stocking of steel by some traders in Europe, which could fuel demand.
According to a Tata Steel spokesperson, Corus had cut steel output by 40% in due to demand slowdown in the wake of the global economic meltdown.