According to reports, T. V. Narendran, CEO and Managing Director of Tata Steel, is very optimistic about India's steel demand in the two years. He believes that steel demand will at least grow at the GDP growth rate due to the investment increase in various industries and the overall increasing consumption.

Narendran mentioned that he is optimistic about steel demand and the future performance of Tata Steel because the Indian government is actively working to improve infrastructure and promote the Production Linked Incentive (PLI) scheme. In addition, rural infrastructure construction has been put on the agenda, which will also stimulate steel demand.

Narendran pointed out that China's domestic market has reached a balance in supply-and-demand, so it should not be a large number of steel exports from China and global steel prices may remain firm.

Besides, coal prices have softened due to geopolitical issues between China and Australia. In the global market, Australia’s coal supply should be increased.