The higher rate of inflation has been affecting domestic demand for steel.
Tata Steel Thailand Plc (TSTH), a unit of India’s largest steelmaker, expects to benefit from higher steel consumption in Thailand this year but needs to control production costs, driven by more expensive power bills.
Tourism recovery, especially after China’s reopening, the government’s infrastructure development projects under the Eastern Economic Corridor scheme and more real estate projects will boost domestic steel demand, said Tarun Kuma Daga, president and chief executive of TSTH.
“The global economy is likely to enter a recession, but Thailand, a major tourist destination, has strong tourism which will contribute to the domestic economy,” he…
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