Vidya Rattan Sharma, Managing Director, Jindal Steel and Power Limited (JSPL) foresee demand for international steel to remain intact over the coming months. The domestic steel demand in India, impacted by Covid-19, too will pick up by mid-June this year, he added.
Commenting on the high steel prices, he said that there has been steep rise in prices of iron ore, scrap materials and other raw materials. For instance, the iron ore prices have surged higher by almost 500 times since October last year. This has impacted the total cost of steelmaking, which is reflected in the high prices for steel. However, Indian steel prices are still the lowest in the world, he noted.
