Indian steel makers who are facing a low, have a reason to cheer about as World Steel Association has predicted that the country’s steel demand is likely to grow at 3.4 percent during the year 2014-2015.
WSA (World Steel Association) in its demand overview, has also predicted that the demand next year would even be higher than six percent.
This is a significant rise as compared to only 1.8 percent in the year 2013. Construction sector contributes for around 60 per cent of the country’s total steel consumption while automobile sector consumes 15 per cent. Both sectors have been currently facing a slowdown in the economy.