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Fall in steel demand is a temporary phenomenon: Tata Steel

Press Trust of India  |  Mumbai 

today said the recent fall in steel demand following of high-value currency notes is a temporary phenomenon, and is expected to become normal in next two quarters.

"The recent fall in steel demand post-is a temporary phenomenon and is expected to become normal in next two quarters. It is a postponement of demand rather than vanishing of demand," MD T V Narendran told reporters on the sidelines of event here.

"The move is good for the and good for the country," he said.

Narendran added that in the long run the demand in parallel economy will flow back into the mainstream, benefiting organised steel producing companies.

The industry expects that the steel demand will be 5-6 per cent higher, while production will be 8-10 per cent as have come down, Narendran said.

However, he refused to give steel price outlook.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 19:42 IST