JSW Steel Says Indian Steelmakers Are in a Sweet Spot
Views : 278
Update time : 2022-05-30 19:57:29
Leading Indian steelmaker JSW Steel said that majority of Indian steel manufacturers are in a sweet spot, despite the headwinds caused by hike in export duty and rising coking coal prices. This view, quite contrary to those of analysts, was shared by Seshagiri Rao, Joint Managing Director and Group Chief Financial Officer of the company during a recent interview. He noted that the steel sector supercycle mentioned for the past two years is still active.
The steel demand will be continued to be driven by increased investments in renewable capacity creations.
The increased defence expenditure by world countries following the Russia-Ukraine war will also result in boosted demand. The underlying themes remain strong in support of steel demand.
