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India expects growth in consumption of stainless metal

Analysts say India's largest stainless steel producer Jindal Stainless Ltd (JSL), the consumption volumes of corrosion resistant metal in India will soon skyrocket. While global annual figures increasing demand for stainless steel is projected in the range of 6% in this country, according to representatives of JSL, stainless steel consumption is expected to increase nearly 10%. At the same time in 3 years, according to the campaign to experts, India will consume 3.4 million. Tons of metal (which is around 1/10 of global consumption).

«Consumption of stainless steel industry in India is far behind the world figures: only 8% compared to 27% in the global statistics. Also the situation with the consumption of the metal in the construction sector: 4% in the country to 16% in the world. Most of the growth in demand for stainless steel metal in India today is due to household demands and needs of the restaurant business. However, we expect that in the next 5 years the situation will change. According to our assumptions, in the sector of household appliances increased consumption of stainless steel will be about 23% in the automotive sector — about 17% and about 22% of the demand will be in the industry «- said Jindal Stainless Ltd forecast Mr. Mathur, who served as chief advisor to the company .

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