Analysts see the market already passing its low-point

摘要

India's steel production by FY10-11 could reach 80-85 MT, according to SAIL, up from around 60 MT expected in FY08-09, as a result of domestic demand. Following BMI's revision in forecasts, we believe that output in the 2011 calendar year will reach 82.8 MT, up from 78.2 MT. By 2013, forecasts indicate that output will reach 96.8 MT, although this will partly depend on approvals and commissioning of steel plants. This would represent a rise in output of 76 percent over the five-year period.