The lockdown in India is having adverse effects on many industries. Most of the sectors are worst impacted due to the pandemic and the steel industry too had to bear its consequences. It is imperative to reflect upon the impact on industries to gauge the extent of losses in order to devise a plan to overcome the same.
The steel players were operating at only 30-50pc capacity utilisations, and looking at gradual increase with the relaxation in lockdown across India. The key challenges in the near term are manpower availability and ensuring finished inventory to normal levels. Muted demand and oversupply is likely to create a loop leading to suppressed prices until either there is a substantial uplift in demand or a substantial volume goes out of the market.
Given the current uncertain demand environment and liquidity pangs, end users prefer to sit on the sidelines and are not in a rush to place large orders to steel mills even after the withdrawal of the lockdown.
SteelMint events would like you to join us as industry experts will discuss the following key points:
- Revival of domestic finished steel demand on easing lockdown measures
- Rural demand pick up
- Auto sector recovering gradually
- National infrastructure project investments – update so far
- Indian steel mills to lower exports on domestic demand recovery?
- Global & domestic price trends
Speakers:
- Mr Sunil Kakkar, Executive Director-Supply Chain, Maruti Suzuki India Ltd.
- Mr GL Gupta, President-Procurement & Supply Chain, Kalpataru Group of Companies
- Mr Nalin Gupta, Managing Director, J Kumar InfraProjects Ltd.
- Mr Ranjan Dhar, Chief Marketing Officer, ArcelorMittal Nippon Steel India
- Mr Vinay Shroff, EVP-Sales & Marketing, JSW Steel Ltd
Register here for the webinar: https://bit.ly/3k52MCy
Date: Friday, August 7
Time: 4:00 PM (IST), 6:30 PM (Singapore Time), 2:30 PM (Dubai time)
Limited seats available! Register Now!
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