BIR 2020: India's steel market to remain subdued; Pakistan, Bangladesh on stronger footing

Demand in India for steel and ferrous scrap will remain subdued for the rest of this year, while Pakistan and Bangladesh both show stronger demand, Zain Nathani has said during the online Bureau of International Recycling (BIR) 2020 World Recycling Convention.

Nathani, managing director of Mumbai-based steel raw materials supplier Nathani Group, gave an overview of the South Asia ferrous and steel markets for India, Bangladesh and Pakistan during the ferrous division session of the event, running October 12-16. He pointed to the separate countries’ handling of the Covid-19 pandemic.
On India, he said that while the country was now largely open for business, the construction and steel sectors were facing a difficult period. He noted that a major participant in the secondary steel sector recently filed for bankruptcy protection, with demand for construction rebar remaining very poor and cash flows reduced.
“Domestic steel and ferrous scrap demand will be subdued for the rest of the year, until things begin to normalize, probably in quarter one or quarter two of 2021,” he said.

“However, there are still a few a bright spots in the near term. During July-August of this year,...

Published

Lee Allen

Carrie Bone

October 15, 2020

13:40 GMT

London, Singapore