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Coronavirus Could Derail Steel Price Recovery in India-The 21st China (Guangzhou) Int’l Spring Industry Exhibition
3/16/2020 弹簧展- Spring Industry Exhibition-Spring expo |
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Tata Steel MD & CEO Mr TV Narendran said that the next few weeks would be crucial to assess the economic impact of the virus. He said “Demand is reasonable. There is no inventory build-up in Indian steel firms and the industry has cut exports. If you look at long products, for instance, there is hardly any inventory in the system. In the next few weeks, we will know how bad this virus is. I think it will move back to peak levels in September, if it virus outbreak settles down at this level. If the virus scare was not there, we would have kept raising prices every month. In March also, we increased prices, but customers are pushing back. Let’s see.”
Mr Narendran said the health of the economy is better in this quarter than the third quarter. He said “If you leave out the virus, I think we are seeing green shoots. Things were picking up in multiple areas. Post monsoon, agri-related sectors have been positive. Commercial property and industrial buildings appear strong as also construction as the government is spending on infrastructure. However, residential real estate continues to be very shaky.The only sector which is still not showing any sign of recovery is auto. When I talk to the auto guys, they think it will be more in the second half of the next financial year, which means September onwards. Post BS-VI, they are waiting to see what the response will be from the market.”
弹簧展-2020第二十一届广州国际弹簧工业展览会-全球最大弹簧展会-巨浪展览
-The 21st China (Guangzhou) Int’l Spring Industry Exhibition
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