How Long Can The Indian Steel Producer Sustain On Exports In Post COVID 19 Lockdown?
By Zaki Hussain, Senior Executive, Indian Steel Association
The inevitable lockdown due to the spread of COVID 19 by the governments of different countries has made a huge dent in businesses across the spectrum causing losses and uncertainty in the global economy. Many sectors in India are badly hit by the same and the steel industry is also among the list that had to bear the brunt of the lockdown. Many players in the domestic steel market were forced to shut down operations, partially or wholly. As per the latest JPC report the crude steel production registered a decline of around 27.4 percent for the period of April-August 2020 when compared with the same period last year. Crude steel production was recorded at 33.5 million tons (mt) in the April to August period. For the same period last year, crude steel production stood at around 46.2 mt.