The nationwide blockade before the Covid-19 pandemic is causing heavy losses for Indian steel companies with experts estimating a 25% drop in demand. The economy is struggling with blockades, factory closures, reduced spending and delayed investment cycles alongside external factors such as weak global demand, supply disruptions and financial shocks. all around the world.
We forecast this storm will affect the construction and manufacturing activities of cars, and therefore, demand for steel in India will narrow by 14-17% this fiscal year. Extended vulnerability, on the other hand, will reduce demand by 22-25%, the report added.
The study estimate shows weak demand for steel and weak bảng báo giá thép cuộn for the first quarter, led by the closing of covid-19. Meanwhile, demand will shrink similarly in Q2, and pent-up demand will drive better growth in the second half, the report said.