Indian market remains strong despite negative global circumstances
Although the global steel industry suffers from several negative factors such as growing inflation, the approaching slow down of the economy, and the European energy crisis, it was estimated that the steel demand in India in the second half of the year could remain stable enough.
The World Steel Association expected last week that in the short-termprospect, India's steel demand will increase by 6.1% in 2022 and 6.7% in 2023. Capital from the Indian government encourages the construction of highways, railways, water facilities, and hygiene improvement projects, sustaining the local steel demand to growfurther.
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