Driven by the requirement of the construction and infrastructure sectors, the annual demand for long steel product in India is expected to grow at 7.6% to reach 63 million tones by 2020-21, said a report by Frost & Sullivan. The steel rebar market in India is maturing as there is significant shift towards value added products, such as the corrosion–resistant rebars used in many upcoming projects. In a market like India, the consumption of long products is usually more than flat products due to heavy demand from infrastructure development projects as the construction sector accounts for 50% of country's total steel consumption, said the report.
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