Business Standard

Demand for higher steel grades to fuel imports in 2019: CARE Ratings

CARE report says domestic consumption may rise 5.5-7.5 per cent

Demand for higher steel grades to fuel imports in 2019: CARE Ratings
Premium

Jayajit Dash Bhubaneswar
The country’s import of steel is expected to rise by 2.5 to 3-5 per cent in 2019-20, fuelled by demand for special and higher grades, says CARE Ratings.

Its report says domestic consumption of steel is projected to rise between 5.5 and 7.5 per cent. “We believe consumption of long steel products will grow at a faster pace, compared to flat steel products, mainly on account of the government’s focus on infrastructure. For FY19, the government’s revised capital expenditure was higher by 20.3 per cent  to Rs 3.2 trillion on a year-on-year basis and funds of Rs 3.4 trillion have been

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 27 2019 | 1:55 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com