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26 November, 2014 11:28 IST
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Steel demand will see a growth of 6-6.5% in 2013: Prateek Gupta
Source: IRIS | 29 Dec, 2012, 02.21PM
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India, over the years has emerged as world's one of the largest producers of crude steel. As per the figures released by World Steel Association in 2011, India stands in the fourth position with a total production of 72.20 million tons.

''Global demand for steel remained sluggish during 2011-12, with demand remaining flat across Europe and US and also demand in China remaining somewhat on the lower side. With this in the backdrop, India's performance was much better.  India's crude steel production increased by 6.6% in Nov'12 compared to global growth of 5.1%,'' said Prateek Gupta,vice-chairman, Ushdev International.

Gupta expects global scenario to improve somewhat in 2013, with US already showing signs of growth. ''Global steel production is expected to grow around 3-3.5% during 2013 taking the total yield figure to 1.60 billion tons, with China's output growth figures to remain around 4-4.5%.''

''As for India, one can expect a good 2013, with a slew of reforms and other policy measures announced by the government will provide further impetus to the sector. Demand for steel will see a growth of around 6-6.5% in 2013 taking the total production to around 80 million tons.''

Ushdev International is engaged in the trading of both ferrous and non-ferrous metals. UIL has also ventured into wind power generation with 34 wind energy generators spread across 5 states. In FY 11-12, the consolidated net sales of UIL increased by 78.45% to Rs 58.24 billion.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.


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