Opinion: Growth momentum in steel to continue into FY2022
Steel

Opinion: Growth momentum in steel to continue into FY2022

Domestic steel demand has witnessed a strong recovery in the second half of FY2021, with an estimated on-year growth of nearly 16 per cent between October 2020 and March 2021. This has primarily been supported by pent-up demand from construction and consumption-linked sectors.

The recovery in the second half will limit the demand contraction for fiscal 2021 to less than 7 per cent. Further, the growth momentum could continue in fiscal 2022, with increased government push for infrastructure spending along with recovering residential real estate. This will lift domestic steel demand by 13-15 per cent in FY2022, led by long-steel demand growth of around mid-teens.

The improved demand has also been accompanied by a steady increase in domestic steel prices.

Click here to read more

Domestic steel demand has witnessed a strong recovery in the second half of FY2021, with an estimated on-year growth of nearly 16 per cent between October 2020 and March 2021. This has primarily been supported by pent-up demand from construction and consumption-linked sectors. The recovery in the second half will limit the demand contraction for fiscal 2021 to less than 7 per cent. Further, the growth momentum could continue in fiscal 2022, with increased government push for infrastructure spending along with recovering residential real estate. This will lift domestic steel demand by 13-15 per cent in FY2022, led by long-steel demand growth of around mid-teens. The improved demand has also been accompanied by a steady increase in domestic steel prices.Click here to read more

Next Story
Infrastructure Urban

NHAI Defends Use of Mamallapuram Pond for ECR Project Ramp

                                                The National Highways Authority of India (NHAI) has informed the National Green Tribunal (NGT) that it was compelled to use a portion of a pond in Mamallapuram to construct an exit ramp for the East Coast Road (ECR) four-laning project between Mamallapuram and Puducherry. The clarification comes in response to a petition alleging that the construction encroached on the waterbody without valid justification.In its submission..

Next Story
Infrastructure Transport

Tiruvallur Begins Full Audit of Accident-Prone Roads

Tiruvallur, a fast-growing logistics and residential hub on Chennai’s northwestern edge, has begun a comprehensive audit of fatal and non-fatal road accidents across the district.Special task forces made up of transport, police, and revenue officials have started field investigations at high-risk locations such as Red Hills, Poonamallee, and Tiruvallur town.The initiative follows an alarming 188 road crashes, including 49 fatalities, reported in February alone. Tiruvallur Collector M. Prathap has directed officials to analyse five years’ worth of crash data to assess if road design flaws o..

Next Story
Infrastructure Urban

Modi Hands Over 51K Job Letters, Urges Youth to Drive Growth

Prime Minister Narendra Modi on Monday distributed over 51,000 appointment letters to newly recruited youth in various government departments and organisations, addressing them via videoconferencing during the Rozgar Mela.Speaking to the gathering, Modi said today marks the beginning of new responsibilities for the recruits. He urged them to strengthen India’s economy, boost internal security, help build modern infrastructure, and bring meaningful change to people's lives. The sincerity with which they perform their duties, he said, would directly impact India’s journey towards becoming a ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?