The Economic Survey today projected domestic steel consumption to grow in the range of 6-9 per cent in 2010 primarily on the back of improved demand from construction and automobile sectors.
“Indian steel outlook for 2010 continues to be positive, since Indian steel consumption is expected to be rising at 6-9 per cent during the current year, on account of higher demand from the real estate, construction and automobile sectors,” the Survey tabled in Parliament said.
However, the projected growth volume was not mentioned.
Steel consumption for April-January period has risen 7.9 per cent to 45.93 million tonne over the same period in 2008- 09, a fiscal which saw demand as well as prices of the commodity falling by more than 50 per cent in the second half.
SOURCE:http://www.ptinews.com/news