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| TITLE |
Change in global steel scenario a challenge for steel industry |
| WRITER |
administrator |
DATE |
2008-11-12 10:20:11 |
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Change in global steel scenario a challenge for steel industry
November 11, 2008
Jamshedpur, Nov 10, 2008 (Asia Pulse Data Source via COMTEX)
Slackening demand and falling steel prices are posing new challenges in front of steel firms, a top Tata Steel official said today.
Refractories play a significant role in many core sector industries, particularly in the iron and steel sector, which alone accounted for consumption of nearly 70 per cent of the total refractories produced, Tata Refractories Ltd Joint Managing Director Dr A K Chattopadhyay said.
In his key note address on the inauguration of two-day International Conference on Refractories for Iron and Steel Industry, Dr Chattopadhyay dwelled upon the global economic crisis, its causes and its impact on refractory industry.
Referring to the prevailing economic meltdown, Dr. Chattopadhyay said we are living in a "Vuca" world which is volatile, uncertain, complex and ambiguous, while explaining how to make use of this global recession to the country's advantage.
He stressed on the research and development and application of refractories for the next decade.
There were new constraints arising for continuous supply of refractories for steel industries like refractory raw material security.
Refractory was one of the commodities which was natural resources based and most of the good quality refractory raw materials were available at China and the Chinese government has imposed restriction on the export of good quality raw materials, he observed.
Dr T V Prasad, refractory consultant, discussed important issues related to globalization of refractories technology and research.
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