Wednesday, 30 November 2016

Tata Steel Fall in steel demand is a temporary phenomenon: 30 Nov 2016


Tata Steel said the recent fall in steel demand following demonetisation of high-value currency notes is a temporary phenomenon and is expected to become normal in next two-quarters,
"The recent fall in steel demand post-demonetisation is a temporary phenomenon and is expected to become normal in next two quarters. It is a postponement of demand rather than vanishing of demand," Tata Steel MD T V Narendran told reporters on the sidelines of CII event.
"The demonetisation move is good for the government and good for the country,"
The demand in the parallel economy will flow back into the mainstream, benefiting organized steel producing companies. The industry expects that the steel demand will be 5-6 per cent higher, while production will be 8-10 percent as imports have come down, 

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