Posted on 08 Jun 2010
String economic growth prospects could poos steel demand in Asia by 9 percent annually in the coming years, an executive with
"After all the problems with recession, Asia has come back very strong," and economies in the region were expanding at between 4-6 percent, Hemant Nerurkar, managing director of the world's No. 8 steelmaker told Reuters in an interview.
Based on an average gross domestic product (GDP) growth of 6 percent in the region and a steel consumption rate estimated at 1.3 times GDP growth in developing countries, "you can expect a 9 percent increase for steel consumption", Nerurkar said on the sidelines of a World Economic Forum meeting.
