India’s steel consumption to rebound to 103 mn t in CY’21 – Tata Steel

Tata Steel expects steel demand in India to pick up in the current quarter, with the automobile sector having bounced back and infrastructure spending by the government to trigger renewed momentum in the construction sector, the company’s CEO T.V. Narendran has said. “Overall, for the year, we expect steel consumption to go back to the pre-Covid level of 103 mn t from 88 mn t logged last year,” he said. “Demand shrunk 14.8% sequentially in the Jun quarter, largely due to lockdowns, Covid impact and diversion of oxygen from industrial application. While steel plants had in-house oxygen supplies, many of our customers had to shut shop due to lack of oxygen for fabrication and welding,” he observed.