(ET)
Domestic prices of steel, of which India is among the three top global producers, are expected to climb 10-12 per cent this year, with the government’s measures to revamp infrastructure and consumption likely reviving demand for the alloy from car makers and construction companies.
In anticipation of a turnaround, steel shares have climbed 32-79 per cent from their October lows, in kilter with buoyant domestic and international prices of the commodity. The Centre’s decision to invest invest Rs 102 lakh crore in infrastructure projects over the next five years is expected to buoy steel demand, while a likely deal between the US and China on tariffs should ease global trade concerns on the primary infrastructure alloy.
