International Steel Mills
June 7, 2016
India Steel Producers Hope Recovery is on Horizon
Written by Sandy Williams
Recent reports on India’s steel sector are providing mixed signals on the industry’s health. The nation’s steel industry has suffered two years of low prices and subdued demand but rising GDP and the onset of monsoons after a severe drought may stimulate new orders.
“Indian steel demand rose 4.5 per cent in the financial year 2015-16, a slightly better growth rate than in the previous year. Demand was driven by higher public-sector spending, demonstrated by a 65 per cent year-on-year jump in railway-sector capital expenditure,” Fitch Ratings said recently.
