Indian domestic steel sales to rise 7-9 percent in current fiscal year

According to the most recent prediction of India's Ministry of Steel, in the current Indian fiscal year (April 1, 2011-March 31, 2012) domestic steel sales volumes will rise by 7-9 percent year on year.
 
Based on the latest figures issued by the ministry, during the April-August period this year domestic steel sales in India rose by just 1.3 percent year on year to 28.05 million mt. The slight increase in domestic steel sales in the given period was mainly due to the lack of anticipated growth in the local manufacturing and automobile sectors, as well as due to the impact of rainfall in June on construction projects