Steel 360 - April 2020

In dit nummer

As the world officially enters a recession with the IMF declaring so recently, on
the back of the rapid spread of the horrific COVID-19, the Indian steel industry
has gone into respiratory distress, with almost the entire secondary sector having
come to a standstill while the primary producers have curtailed output. Both
moves have reduced capacity utilisation to a mere 30% at present. In any case,
whom will the mills sell to? Both construction and automobiles, which contribute
to over 70% of steel consumption, have come to a grinding halt. Analysts reason
that demand is not going to pick up before Q3. Our Cover Story on pg. 16
explores the COVID-19 conundrum.
In ExperTalk, on pg. 24, Dr Manish Lunker too dwells on the virus impact. Even at
a conservative estimate, if there has been a 20-25% disruption in Chinese
domestic steel consumption in three months, this would result in an extra
inventory accumulation of 30-40 MnT, which is likely to find its way into nearby
Asian markets soon.
In Guest Column, on pg. 10, Dr Aruna Sharma, former Secretary, Ministry of
Steel, GoI, explores what derailed India’s growth story - possibly, knee-jerk
reactions to issues rather than long-term policy reforms.
Intervista, on pg. 05, turns the spotlight on Mandeep Singh, CEO & ED, JSL
Lifestyle, who talks about creating an aspirational stainless steel culture in India.
Plus, we focus on a lot more. Enjoy the read!