RINL expects steel demand to rise

Rashtriya Ispat Nigam Ltd (RINL), the government-owned steel manufacturer, is positive on demand for steel in the coming months. Chairman and Managing Director P Madhusudan has said the global economy is expected to see good growth this year.

The case would be the same for the Indian economy, too, owing to the government’s recent initiatives towards infrastructure development, he added. As several infrastructure projects had already been started across the country, there was firm demand for steel, especially for longs, Madhusudan said.

As other sectors were also showing signs of a revival, RINL could capture adequate market for its additional production due from the company’s new units from next month, he added. Madhusudan indicated steel majors were likely to consider further price increases.