Tata Steel: Raw material price fluctuations affect supply and demand

Nerurkar, managing director of Tata Steel, said the fluctuations in raw material prices had affected the supply and demand of manufacturing, and there was no plan to continue to expand in China this year. (Source: Sina Finance Xiao Ying) April 16 Evening News in an exclusive dialogue with Sina Finance, Nerurkar, managing director of India's steel magnate, said today that fluctuations in raw material and commodity prices had affected manufacturing supply and demand, causing tensions between manufacturing companies and customers.　　He also said that due to this impact, this year did not continue to expand the market in China plans. Nerurkar attended the 2011 Annual meeting of the Boao Forum for Asia and participated in a forum on the theme "G20: At the Crossroads". He told Sina Finance today that the volatility of raw materials and commodities in the global market is serious and that the steel industry has fluctuated by 250 US dollars/ton since 95.　　For the steel industry, the proportion of raw materials to the total cost of the company is as high as 70%, seriously affecting the company's supply and demand relationship. Because of rising prices, he says, the company's relationship with its customers has become strained, "which has made our clients very dissatisfied and angry. Nerurkar also said that because of the impact of raw material prices, the company did not continue to expand its market in China this year, "The Indian market is very good, supply has been very tight, we want to first of the Indian market to do well." "Tata Steel is the largest steel mill in India, and the company has a rolling mill in Wuxi and Xiamen, China." The Tata Consortium, the parent company, is India's largest consortium, with nearly 100 companies covering steel, automobiles, machinery, electricity, textiles, chemicals, home appliances and other fields. (Xiao Ying from Boao)