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Tata Steel expects strong growth in Indian steel demand in 2021
release time :2021-01-04 18:14:19 page view:561

Jan. 4, 2021 - Tata Steel CEO and managing director Mr TV Narendran said that the steel demand in India should grow at least at the rate of GDP growth or higher in 2021-22. He expressed optimism about the demand for steel in India in 2021, backed by inflow of funds from across sectors and an uptick in the overall consumption. He said “Government’s efforts to improve infrastructure coupled with the Atmanirbhar Bharat’ policy and the Production Linked Incentive initiative. Additionally, the government’s focus on rural infrastructure projects will also give an impetus to the steel demand. We are optimistic about the overall demand for steel and hence the performance of the steel industry and Tata Steel.”

 

Narendran pointed out that China's domestic market has reached a balance in supply-and-demand, so it should not be a large number of steel exports from China and global steel prices may remain firm.

 

Besides, coal prices have softened due to geopolitical issues between China and Australia. In the global market, Australia’s coal supply should be increased.

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