Steel consumption in India this year will increase by 3.4 percent, in the following - by 5.6 percent

According to the Economic Times, the volume of metal products consumption in India will grow by 3.4 percent in 2013, to 74 million tons. The rates of Indian growth will be slightly higher than the global, declared by the World Steel Association (WorldSteel) at 3.1 percent, up to 1 billion 740 million tons.

Steel consumption in India is increasing for the second year in a row after growth by 2.6 percent in 2012 and will reach the indicator of 5.6 percent in 2014, the WorldSteel predicts. At the same time, the global consumption of metal products next year will increase by 3.3 percent, to 1 billion 520 million tons. This indicates a slow but sustainable restoration of world demand.

The main risks in the global economy, such as the "strict landing" of the Chinese economy and the crisis in the eurozone are gradually being removed from the agenda, say in WorldSteel and promise the next year the continuation of the restoration of steel in countries with a developed economy.