Saturday, May 1, 2010

Steel in recession

Nirjhar's post at www.financialexpress.com, on April 2009:
It is a tough time for the whole economy, and steel industry is also not an exception. In India, steel production has fallen sharply compared to last two years. At the same time, many upcoming new projects are also under hold now a days. Major private sector players like JSW, Bhushan are prefering to go slow. The land problem in Kalinganagar is also a set back for Tata. But in this crucial time, JSW has emerged as the largest private sector steel producer in India. It is quite significant, so far future Indian steel market is concerned. Another potential market player is Essar. Steadly they are adding up their facilities and they will be another big player in future apart from Tata and Jindal. They are using the recession period as add-on period. So the future is quite optimistic for the Indian steel market. Public sector steel plants are also installing new facilities. So when the market will revive, India will be ready to supply the global steel demand. Economy will have ups and downs, but to act effectively and wisely at different situations are important. Indian steel players are slowly and steadily improving their plant capacities and using the recession period as their energy boosting session. This maturity will push up Indian economy a lot. So, may be turbulance is ahead, but Indian steel market is gaining and restoring energy from this turbulance; Indian steel market will use and transform that energy for steady and laminar growth in long future.

1 comment:

  1. View on May 2010:
    One year has gone. Steel market is reviving. Steel price is increasing. So the steel manufacturers are gearing up their expansion plans. Hope in the coming two years few plants will be ready too produce steel. Jindal Stainless, JSW, ESSAR, VISA, VIZAG will come up with their new facilities. Hopefully JSPL, TATA will also be able to set up new facilities, provided economy remain steady.

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