With the demonetisation Tata Steel said the current fall in steel demand because of high-value of currency is a temporary phenomenon, and is probable to become ordinary in next two quarters, reported PTI.
Tata Steel MD T V Narendran told reporters "The recent fall in Tata steel demand post-demonetisation is a temporary phenomenon and is expected to become ordinary in next two quarters. It is a rearrangement of rather than vanishing of demand.
"The demonetisation move is good for the government and good for the country".
Narendran added that in the long run the demand in similar economy will flow back into the majority, benefiting organised steel producing companies.
Narendran said - The industry expects that the steel demand will be 5-6 % high, while production will be 8-10 % as imports have come down.
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