INDIA October 09 2014 11:45 AM

 

MUMBAI (Scrap Register): Indian apparent steel use outlook is improving following the election of a new government which is promising pro-business reforms, as per World Steel Association.

 

In 2014, India’s steel demand is expected to grow by 3.4% to 76.2 million tons (Mt) in 2014, following growth of 1.8% in 2013. In 2015 structural reforms and improving confidence will support a further 6% growth in steel demand but elevated inflation and fiscal consolidation remain key downside risks to the outlook, worldsteel said in its Short Range Outlook.

 

worldsteel forecasts that global apparent steel use will increase by 2.0% to 1,562 Mt in 2014 following growth of 3.8% in 2013. In 2015, it is forecast that world steel demand will grow by another 2.0% and will reach 1,594 Mt.