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Tata Steel warns uncertain outlook for the global economy

Tata Steel, the largest steelmaker in India said it warned the uncertain outlook for the global economy in the Q3 and Q4.

According to the official data, the sales of house building and automobile have slowed down and the steel consumption in Indian domestic market has dropped.

Moreover, the steel consumption has been forecasted to drop due to worries on the US debt credit and the Europe ’s debt crisis.

Thus, Tata Steel has worries the slowdown of global economy even though ArcelorMittal, the world’s largest steelmaker said earlier that Europe ’s steel demand would turn better in the period of the Q3 and Q4.

Source: www.indianfoundry.org

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