Tata Steel ‘bullish on steel prices’ on improving Indian demand

Tata Steel, “continues to be bullish on steel prices and spreads with the improving demand situation in India,” chief executive officer and managing director, TV Narendran, said on Wednesday May 16.

Finished steel demand in India is forecast to reach 92 million tonnes in 2018, up from 87 million tonnes in 2017. Indian steel demand will rise to 98 million tonnes in 2019, according to Tata Steel’s May 16 presentation to analysts. Indian domestic prices are expected “to be range-bound in the upcoming monsoon season [July to September],” Tata Steel said, expecting prices to remain largely stable in a period of traditionally lower demand. Metal Bulletin’s weekly price assessment for Indian domestic hot-rolled coil (HRC) was...

Published

Viral Shah

May 16, 2018

18:30 GMT

London