Steel Consumption in India Set for Slowest Growth in Three Years

From bnnbloomberg.ca

Demand for steel in India could grow at the slowest pace in three years as an economic slowdown in the global industry’s bright spot deepens. Steel consumption in India is likely to increase by less than 6% this fiscal year, according to ICRA Ltd., the local arm of Moody’s Investors Service. That would make it the slowest pace since a 3.1% increase in the year ended March 2017. “Our earlier view was that demand should grow at 6% to 7%,” Jayanta Roy, a senior vice president at ICRA, said in an interview. “A growth of 7% would be out of line with the current situation now and even 6% in today’s environment ... (full story)