Highly-leveraged steel companies have been the worst hit by the Covid-19 crisis with the sharp fall in demand and uncertainty over government spending on infrastructure projects. Steel producers were dependent on the export market to make up for the drop in domestic demand. However, how long the export market will support domestic steel producers is the billion dollar question. BusinessLine spoke to Seshagiri Rao, Joint Managing Director, JSW Steel, on the future prospects of the company and the sector. Excerpts:
How do you see steel demand, going ahead?
We are expecting a slow recovery in India; it may take up to six months for demand to pick up. In April, steel demand had fallen by 91 per cent, but in May there has been a slow recovery.
