Tata Steel will slightly outperform the previous two years in the new year
Recently, Narendran who is chief executive officer and managing director of Tata Steel, said in his New Year speech that Tata Steel will outperform the previous two years in 2017 despite various challenges. And as the global steel industry resumes its stability, Tata Steel will slightly outperform the previous two years in the new year.
Narendran said that in 2014, the Indian Ministry of Mines announced a revision of the mineral concession regulation 1960, and Tata Steel was forced to close some mines; in 2015, China increased its global steel exports, including exports to India. In such a challenging environment, Tata Steel still maintained a certain growth rate.
He said that due to the Indian government to impose anti-dumping duties and other temporary measures, India’s steel imports from China fell from 10 million tons to 5 million tons. In addition, the Indian government will also take some measures to stimulate steel demand, steel consumption will increase, with the development of national infrastructure, the current high level of logistics costs will decline.