While global steel demand forecasts have been scaled down, India’s growth is expected to increase. Global steel demand came in at 1,587 million tonnes, according to the World Steel Association’s April short range outlook report, falling 2.2% short of its October prediction of 1,622 million tonnes. Weaker global steel demand could be a concern, especially as it comes during a year when the US wants to restrict steel imports. On the brighter side, India’s domestic steel demand is in good form. That leaves them exposed to the risks of slowing demand and its effect on steel prices.

Source: Mint April 23, 2018 04:52 UTC