AMNS India CEO Expects Indian Steel Demand to Recover
Steel Demand ET

AMNS India CEO Expects Indian Steel Demand to Recover

ArcelorMittal Nippon Steel India CEO Mr Dilip Oommen during the “India Focus” segment on “Bloomberg Markets: Asia” discussed the

ArcelorMittal Nippon Steel India CEO Mr Dilip Oommen during the “India Focus” segment on “Bloomberg Markets: Asia” discussed the impact the pandemic had on his business, steel demand and the company’s expansion plans. He said “The steel demand is expected to revive. It stood higher in June this year, compared with May. The auto sales in the country witnessed 147% year-on-year growth in June, suggesting strong recovery in auto sector, which in turn should augur well for the steel sector.”

He said “The decarbonisation drive in China is likely to impact steel production in that country. Incidentally, the Chinese steel production is projected to remain flat in 2021. The increased production during the initial half of the current year will be balanced by reduced output in H2. Also, there have been no structural changes to suggest that steel prices will come down from current levels.”

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