India may increase steel output

Despite the fall in steel price, Indian steel producers are optimistic about the base metal's price prospects. During this year the demand for the metal declined by 3%; however, it is still higher than in 2010, according to Business Standard. The production is likely to jump in the next months but the demand is likely to take longer to follow an upward trend, said Seshagiri Rao, Joint Managing Director at JSW Steel.