India's steel demand resumes gradually while coronavirus lockdown
In the Indian market, some end-users were taking steps to restart operations, but the return to normalcy would still take a long time though the domestic steel seemed to be revived in some way. In the past couple of days, many automakers have announced they had got clearance from the government to resume operations, as well as construction activities.
However, the steel companies still think it’s too little. Construction accounted for a big amount of steel end-use while the automobile was small. The demand coming back was mainly from the auto components, fabricators, and some government projects.
It’s not the restart level that was required, which still needed to be reconstructed for a significant pick-up in demand. ArcelorMittal Nippon Steel India had already restarted many of its production units. However, a further increase in production was riddled with challenges.
