30-07-2012, 03:56 PM
DEALERS IN NON - FERROUS METALS
Steel Growth Makes Nation
Steel industry is one of the most vital
sector for the economic growth of any
country. In fact it is an important component
in the building materials family
and plays a very crucial role in civil
construction of any type and size.
Steel industry fortunes are tightly
linked to the overall performance of
the economy. Steel demand is set to
outstrip supply with improved demand
from sectors like infrastructure,
housing and automobiles in recent
months. While production is set to
increase by around 5 percent, demand
is growing at seven percent. The current
financial year will be closed with
a production of 60 million tonnes
against 56.4 million tonnes in 2008-09.
The Eleventh Plan Steel production
target is 124 million tonnes. It has
been projected that the country’s steel
production will increase to 175 million
tonnes by 2020. There is also a plan to
raise the capacity to an estimated 240
million tonnes, by 2020 - more than
four times the present capacity. All
integrated steel plants are expanding
their capacities.