While the steel sector is classified as an essential service
under India’s Essential Services Maintenance Act 1981, it is not insulated from the implications of the lockdown.
Fastmarkets looks at how the lockdown is affecting the ferrous market supply chain and the possible ramifications for the future.
As Modi announced the lockdown, businesses operating at India’s Kalinganagar Industrial Estate rushed to the local district collector’s office to seek clarity on the workforce allowed to maintain their operations, a market participant who works in the area told Fastmarkets.
The district collector or district magistrate is a government employee - an officer of the Indian Administrative Service - in charge of the general administration of a district. The Kalinganagar Industrial Estate is an industrial town in the state of Odisha, the largest iron ore-producing state in the country.
It is also a major steel production hub with companies such...