SSS 2020: Asian steelmakers foresee recovering steel demand in 2021-2025

Asian steelmakers are expecting steel demand to recover from effects of the Covid-19 pandemic in 2021, although recovery rates could be sluggish in some regions, according to panelists at Fastmarkets Steel Success Strategies online conference last week.

Vinay Shroff, the executive vice president of sales and marketing for India’s JSW Steel, said a series of proposed investments in infrastructure projects will boost steel demand in the South Asian country. "[Investments amounting to $1.5 trillion are likely to be made in the next five years, especially in the energy and transportation sectors," he said. These include: The $150-billion Bharatmala program, which will use about 2-3 million tonnes of steel to build a network of highways, expressways and bridges in the next five...

Published

Paul Lim

November 05, 2020

06:50 GMT

Singapore