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,...