Demand for steel grows by 5.2%: ICRA

Source: PTI

Domestic steel demand has grown by 5.2% during the first nine months of 2017-18, which is positive for the industry, rating agency ICRA has said.

The rise in demand was aided by a buoyancy in the automobile sector and recovery in the construction and capital goods sectors, it said in a statement.

ICRA expects domestic consumption growth to be favourable in the backdrop of the government’s thrust on infrastructure, particularly in affordable housing and power transmission. “A combination of favourable factors like domestic demand rise in domestic and international markets and lower growth in imports would help the sector in the days forward,” ICRA said.

Source: PTI