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Indian steel consumption growth in 2019 to slow down to 7% - Mr NA Ansari JMD JSPL

Steel News - Published on Fri, 22 Mar 2019

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CNBC reported that Mr Naushad Akhter Ansari, joint managing director of JSPL, said that steel consumption in India is likely to grow by 7% in 2019. He said “If you look at the apparent steel use in India in 2018, it went up by more than 8%. In 2019, it is expected to go up by a little more than 7%. So relatively, the growth is lower but, the growth is quite handsome. We see the demand had dipped down a little bit towards the end of December, a little bit in January also but subsequently it has been picking up. Today we have no difficulty in selling the products that we have. We are able to sell all the products despite our ramp-up, which is happening substantially.”

With regards to steel prices, he further mentioned, “Last two quarters were also a bit of a roller-coaster. At some point of time, they might have gone even up to INR 48,000-49,000 per tonne, now we are talking about INR 45,000-47,000 per tonne, so certainly there has been some decrease."

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Posted By : Rabi Wangkhem on Fri, 22 Mar 2019
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