Tata Steel Ltd expects the global prices of steel to remain firm in 2021 as it sees muted exports from the world's largest steel producing nation, China, amid a better demand-supply balance there. Higher consumption of steel in China has helped prices recover in 2020 as well, as exporting its surplus at lower prices would have typically weighed on prices globally, Tata Steel’s CEO and Managing Director T V Narendran has said. 

While prices of hot-rolled coils were at an all-time high in the domestic market recently, those of rebars were at their highest level in at least a decade. Tata Steel expects the demand for steel in the domestic market to grow "at least" at the rate at which GDP grows in 2021-22 (Apr-Mar), helped by the government's focus on rural infrastructure, production-linked sops initiative, and the 'Atma Nirbhar Bharat' policy.

While demand for steel generally outpaces the GDP growth rate of developing countries by 100 basis points, the growth rate in India has traditionally been lower. Tata Steel is one of the largest producers of steel in the country and expects prices of raw material to be a "mixed bag". The company believes that the current demand-supply situation favours steel companies, which prefer selling their products locally because of better pricing. "We are certainly back to where we were before the pandemic and we expect the trend to continue through FY22," T V  Narendran said.

States Borrow 43 pc more in first 9 months, states fall deeper into debt trap

By 2030, India emerges as Third largest economy, report

RBI to conduct simultaneous purchase and sale of govt securities