Steel Authoritv of India (SAIL)'S offer for sale (OFS) comes at a time when the demand and pricing environment for steel is subdued, both in India and globally. Plus, domestic sup-plies are expected to increase faster than demand over the next 12-18 months. For instance, five million tonnes per annum (mtpa) of saleable steel capacity [including SAIL's two mtpa) is expected to come up in FY16. "Given the six-seven per cent: increase in industry's capacities., demand has to grow by eight-nine per cent compared with about one per cent now to meet the increased supplies.
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