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Indian government spending to drive steel demand-The 19th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
8/15/2017 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo |
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Business Standard reported that after a subdued trend so far this financial year, the country’s steel consumption is likely to rise in the coming months with increase in public sector spending especially in roads, power, water and gas pipeline projects. Data compiled by the Joint Plant Committee of the steel ministry shows consumption at 26.2 million tonnes in April to July (first four months of this financial year), a marginal 0.5% increase over the same period last year. Crude steel production at 31.8 million tonne was five per cent higher.
Anticipating the trend, primary steel producers have raised their product prices by INR 3,000 a tonne, effective August. This reversal in consumption trend assumes significance in terms of government spending, which would drive all round growth in this and allied sectors.
Steel major JSW said in an analyst presentation available on the BSE website said that “Steel demand is improving with increasing public sector spending, as reflected in increased activity in sectors like roads, power transmission and distribution, solar energy, earthmoving equipment, pre-engineered buildings, water and gas pipelines. Although, sluggish private capital expenditure remains a concern.”
A CARE Ratings study reported the prices of cold rolled coil and hot rolled coil in July stood at INR 44,052 a tonne and INR 41,656 a tonne respectively. These were up by INR 929-1,580 a tonne from June, a sequential rise after five months. In January, the prices had increased by INR 2,250-2,350 a tonne on a monthly basis. -The
19th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
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