Indian steel giant Steel Authority of India Limited is hopeful that with construction in the real estate sector and government infrastructure projects set to pick up in the coming months, demand for long steel products is expected to pick up by as early as mid November.

Mr Sushim Banerjee ED commercial of SAIL told Business Line that “Till about September, there was a steady growth in the demand for long products, but October was a subdued month. But with the construction activity picking up, by mid November, there should be an increase in the demand for long products.”

He added that “Real estate sector started picking up in October. But construction is expected to start by November December. That is the time when demand for long products should pick up.”

He explained that “For the long products, domestic demand will dictate pricing and not price of imports.”

The report citing data from ICRA Management Consulting Services Ltd reported that consumption of long products till September 2009 has shown a growth of 2.1%.

(Sourced from Business Line)