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Experts have changed the expectations for supply and demand in the Indian steel market

Earlier it was reported that India is expected to increase the consumption of steel products. The same applies to forecasts for production volumes. Currently, however, the opinions of experts have changed. In particular, credit Agency ICRA interprets otherwise the course of events. The Agency has begun talking about a possible lowering of the rate of output growth. They believe that national output will grow slower. We are talking about the national output of steel products. The same applies to the growth rate of consumption. Recall that the forecasts pertain to the current fiscal year. It lasts from April 2019 to March 2020.

The first forecasts were published in February this year. The experts were informed that the expected increase in demand for rental will be 7.5%. Now rumor has it that the figure will increase by no more than 5−6%. The opinion of the experts changed due to a number of important circumstances. First of all, it concerns the political situation. In may elections that strongly affected the investment. So the volume of investment in the two areas dropped significantly. We are talking about the construction industry and industry of the country. In summer the situation is unlikely to change dramatically.

It is expected that the growth rate will begin to change this autumn. It is illustrated that the planned commissioning of new projects. For the most part they relate to infrastructure. However, the year is expected to be lower than previously thought. According to preliminary estimates the volume of production will amount 115−116 million tonnes. It will exceed the previous year in the order of 4%. Before that it was about the growth at 5.9%. Local businesses do not intend to increase their production volumes. It concerns manufacturers of steel and rolled products. New capacities will be introduced a little.

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