SAIL not affected by slowdown

The global slowdown did not have any negative impact on the output of Steel Authority of India Ltd (SAIL) due to the growing domestic demand, said top SAIL officials.

This was disclosed here on Monday by Steel Secretary Atul Chaturvedi.

“Our production has remained steady due to the growing domestic demand.Infact SAIL has emerged as one of the fastest growing steel firms in the world during the slowdown,” said Chaturvedi.

Asked if there was a need to lower the prices of steel he said, “since we have recently lowered the prices of steel there is no scope for further lowering prices immediately.”

He however agreed with the fears in India if China the world’s largest steel producer dumps its surplus steel in India at a very low price. Chaturvedi said the fast growing infrastructure and housing projects were fuelling the demand for steel as a result of which there was a gap between demand and production of steel.