Ksteel

  Forecasting slow but steady recovery ahead with JSPL’s new project of manufacturing head hardened rails, the steel industry in India sees hope in recovering from the effects of Coronavirus.   So many industries have fallen victim to the drastic effects of Coronavirus and haven’t yet escaped its clutches. The impact could last long due to the lockdown restrictions as well.  However, the Steel industry has been doing better compared to the others. Because steel is an essential commodity and the Indian economy depends on it, some sectors in the steel industry were permitted to operate despite lockdown. This allowed them to transport materials to ports for export to other countries. It’s going to get even better once the pandemic dies out, as the demand for the material and products is set to increase in the coming months.  Steel price has risen by 10% (source: the tribune). Domestic steel prices have also gone up due to low demand in Q1 and Q2 of 2020.  Steel prices in Bangal