The steel industry is poised to stage a sharp recovery in the next financial year. Domestic steel majors, including Steel Authority of India, Tata Steel, Jindal Vijaynagar Steel and Ispat Industries, have reported a modest increase in sales during the April 2001-February 2002 period.
Some of them are planning to hike prices from April 1, 2002. With the export market opening up and a northward movement in global and domestic prices, domestic steel makers are now optimistic about a turnaround.
SAIL has reported overall sales of 6.9 million tonnes of steel in the domestic market during April 2001-February 2002, 10.5 per cent higher than what it sold during the corresponding period in the previous financial year. Tata Steel has seen its volumes jumping 5.27 per cent from 3.01 million tonnes to 3.17 million tonnes in the same period. While Ispat
