India's Steel Industry Poised For Rapid Growth

BANGALORE--May 12, 2008--According to the International Iron and Steel Institute (IISI), the global steel industry will see another strong year in 2008. The first quarter of the year has already reported production of about 341 million metric tons, which is 5.6% higher than last year's first-quarter production. IISI estimates that global steel use will grow to 1.3 billion metric tons in 2008, an increase of 6.7% over 2007.