❝The Company Is On The Path Of Reinventing Itself❞

Dalal Street Investment Journal|May 25, 2020

❝The Company Is On The Path Of Reinventing Itself❞
In this exclusive interview with Dalal Street Investment Journal, M V Subba Rao, CMD, KIOCL, outlines the company’s plans to face the challenges put up the ongoing pandemic and the strategies that will once again place it on the growth path
M V Subba Rao

What is your outlook for the prices of steel in 2020, taking into consideration the current economic condition prevailing in the country?

Though India expected a positive outlook in the year 2020, the outbreak of the virus pandemic has inflicted high and rising human costs worldwide and the necessary protection measures are severely impacting economic activities. As a result of the pandemic, the global economy is projected to contract by around 3% in 2020. The world is faced with uncertainty over the extent of the pandemic and commodity prices are declining. The price of iron ore is expected to driftlower in the forthcoming months due to the pandemic that is eating away at demand. It is reported that the lockdown has spurred steelmakers to close furnaces as demand from their customers such as automakers has dried up.

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May 25, 2020