Steel demand is seen rising by 10 percent in the fiscal year to March 2011, helped by higher spending on infrastructure, Steel Secretary Atul Chaturvedi said on Wednesday. "Steel demand will continue to rise because a lot of emphasis has been put in the budget on infrastructure development," Chaturvedi told reporters on the sidelines of a conference. "We expect about 10 percent increase (in steel demand) from the current year's level," he said, adding, he expects the current fiscal year's demand to rise 9 percent, higher than the earlier estimate of 8 percent. Steel production in the 2010/11 (April-March) fiscal year is likely to be 65 million tonnes, compared to 60-61 million tonnes in the current year, he added |
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