PTI quoted Uttam Galva Steels as saying that the steel demand is likely to grow by around 10% in the next financial year.

Mr Ankit Miglani deputy MD of Uttam Galva said that "We are expecting a 10% growth in the steel demand in the next financial year."

Referring to steel pricing, he said that global steel prices would depend on the possibility of a stimulus package given by the Chinese government. Mr Milgani said that "Global prices of steel will depend on the possibility of a stimulus package given by the Chinese government after the new regime takes over."

He, however, added that any rise in input prices of steel, is likely to passed on to the end user.
Total steel demand in the country was 71 million tonnes in FY'12, which is likely to be around 75 million tonne in the current financial year.