SAIL expects strong recovery in steel demand

Steel Authority of India Ltd plans to increase production at all of its factories after the COVID-19 lockdown is lifted and the economy recovers to near normal levels. SAIL Chairman Anil Kumar Chaudhary told ANI: “I strongly believe that steel demand will be reduced once the lockdown is lifted. Activity in manufacturing, construction and infrastructure is bound to increase. As the government is concerned about slowing economic growth, activity in the steel consuming industry will inevitably increase, which bodes well for the metals sector. ”

In the first phase, the company plans to increase this capacity to 75 percent and then synchronize production with demand. He said: “On the operational side, we will ramp up production in line with market demand sentiment, which I expect to see green shoots soon after the lockdown. We are ready to resume our normal work when and when the situation allows us. ”

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