Demand for Long Steel to Grow

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.