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India won’t see a V-shaped recovery, steel demand will stay weak: Seshagiri Rao, JSW Steel

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MUMBAI : JSW Steel, one of India’s largest steel producers, is turning to exports to compensate for the lack of domestic demand for steel, given the extended national lockdown.

In an interview with Mint, MVS Seshagiri Rao, Joint MD and Group CFO, JSW Steel, said that while the covid-19 pandemic has pushed back expansion and profitability plans in the first quarter, the company is fairly confident of catching up in the second half of this year.

Edited excerpts: Is JSW coping with the crash in domestic steel demand by turning to exports? Global steel prices have fallen, so how have realisations been affected? Indian steel demand in May improved by 25-30%.

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United States
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India
India
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Deaths: 141 607
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Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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