Thursday, 4 May 2017

An outlook on Steel demand & supply, 2017

The new infrastructural developments by the government and other private bodies have made steel the most demandable metal in last 5 years. In each sector, right from construction to electronics, steel demand has spaced up like never before.


      The reason behind is ever escalating business graph in India. We are at a super speed mode in terms of economical & infrastructural development. This has a direct relation to the need of high-quality steel available in suffice quantity. It’s the need of the most challenging phase of our nation.





      Along with the infrastructural requirement, steel products are produced to meet the demand in the innovative phase of the automotive industry. Hence, steel consumption is predicted to reach 104 MT by 2017. This has made steel demand to overtake the actual steel supply.


      To bridge the gap of production, steel companies are putting their maximum efforts. At VKICL, we have set out an effective plan to increase our imports & meet the demands of our customers. We take a pride in contributing our hard work in building up a strong infrastructure of our nation. The current situation has given us a challenge & we are more than happy to work towards achieving success.The other sectors that will expectedly consume steel produce in maximum amount are industrial sectors and infra expenditure projects like railways, roads & highways, etc. This is a sign of improved facilities for the citizens of India. In all the development, steel plays a major part. Our infrastructural necessities are highly dependent on steel.


      This constant demand and supply of steel has made India, the 3rd largest steel producer in the world. Indians always look for safety and sustainability in construction and thus, steel is a preferable metal here. With each invention & innovation, steel produce will always witness a growing graph of demand and supply.




 

      The government of India has always encouraged high-quality steel produced. It has now allowed 100% foreign direct investment in the steel sector under the automatic rule. This has opened new waves of advancement & creative inventions in steel production.Along with this, ‘The scheme for the promotion of R&D in the iron and steel sector’ and ‘The development of technology for Cold-Rolled Grain Oriented (CRGO) steel sheets and other value-added products’ are some of the new schemes to be implemented by Indian Government.


      Such support truly motivates us to innovate, produce and supply steel to meet demands from each and every corner of our country as well as abroad. Indian steel sector is witnessing good days & we, at VKICL would like to take this opportunity to serve our clients with the best steel products.





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