Motilal Oswal
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Motilal Oswal

Expect steel consumption in India to grow by 7% in 2019, says JSPL

Updated : March 20, 2019 11:50 AM IST

Naushad Akhter Ansari, joint managing director of JSPL, said that steel consumption in India is likely to grow by 7 percent in 2019.

“If you look at the apparent steel use in India in 2018, it went up by more than 8 percent. In 2019, it is expected to go up by a little more than 7 percent. So relatively, the growth is lower but, the growth is quite handsome," said Ansari.

“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,” he added.

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 Rs 48,000-49,000 per tonne, now we are talking about Rs 45,000-47,000 per tonne, so certainly there has been some decrease."
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