China, India, Turkey to lead steel growth

Jun 21, 2013 | 04:28 PM | Catherine Ngai

Tags  steel, Steel Success Strategies, Jayant Acharya, JSW Steel, Robert Stall, Ernst & Young, Ugur Dalbeler, Colakoglu Metalurji Catherine Ngai

NEW YORK — While sluggish growth, oversupplied markets and weak demand continue to plague the U.S. steel industry, nations such as India and Turkey will continue to remain strong, according to several executives and consultants at the Steel Success Strategies XXVIII conference in New York sponsored by AMM and Englewood Cliffs, N.J.-based World Steel Dynamics Inc.

"The Indian growth story was founded on a structure of (moving from) farm to non-farm (industries) ... and the next phase of growth in India is for infrastructure, manufacturing and urbanization," said Jayant Acharya, director of commercial and marketing at Mumbai, India-based JSW Steel Ltd. "India is the second-most populous country in the world, and 50 percent of the population is less than 24 years old, which means it’s likely to add 10 million people into the (work) force per annum for the next 15 years."....

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