New Delhi: Steel makers, such as SAIL, Tata Steel and JSW Steel, are witnessing a revival of demand in the country following improved consumption from sectors such as construction and automobile.
“Steel sector is now doing quite well. There is an overall growth in demand for steel. It is a positive sign,” JSW Steel Vice-Chairman and MD Sajjan Jindal said.
Steel firms saw demand for steel waning due to the global industrial downturn in the second half of this fiscal.
However, the country’s largest private steel producer expects demand to improve by 4-5% in the next fiscal.
“This whole year, we will see a slight growth in steel demand, may be by 4-5% as steel consumption increases,” Jindal said.
Ruling out any changes in price structure, Jindal said, “Domestic steel prices have already come down. We are already more or less bottomed out. Do not talk about pushing it further down,” he said.
Echoing sentiments, other domestic steel makers such as Essar Steel and VISA Steel said they expect the improving trend to continue during the next fiscal.