In Spite of Gloomy Sentiments, Indian Producers May Look Forward to a Silver Lining

摘要

In the recently released Short Range Outlook worldsteel forecasts that global steel consumption will increase a meager 2.1 % in 2012, down from the level of 6.2% growth in 2011. As Hans Jugen Kerkoff, Chairman of World Steel Economics Committee opines that further economic deterioration during the second quarter of 2011-12 due to continued uncertainty arising from the debt crisis in eurozone and a sharper than expected slowdown in China have weighed heavily on business confidence and manufacturing activities around the world and have weakened considerably the momentum in both the developed and emerging economies.