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Indian Steel Market Has Bottomed Out - JSW Steel’s Mr Seshagiri Rao-2020 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
1/3/2020 钣金展-激光展- Laser expo, Sheet Metal Industry expo |
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JSW Joint MD Mr Seshagiri Rao while sharing his views with Business Line said that “We think things have bottomed out. We started the year with 8.8 per cent growth the previous year. The first quarter steel demand growth was 6.4 per cent, then it was 2.4 per cent and then in September it went into negative territory. In October it became marginally positive and improved there on. The cumulative growth in first eight months of this fiscal was 3.56 per cent. The slowdown in growth was quite visible in the later part of the year from June. The main reason for the slowdown was the lack of credit from banking system and cut in government expenditure. The Government has taken a series of measures to address the issue. Now, credit growth touched 6.5 per cent. Banks’ balance sheet will get strengthened by recovery in big NPA accounts and they will be in a position to lend. The recovery momentum will catch pace. We expect the March quarter to be better than December quarter.
He added “Today, capacity utilisation is low in the manufacturing sector. At least this should see an improvement if the demand picks up. Today, credit growth from March has tapered off. Credit to the steel sector, in particular, has been coming down quarter after quarter, because of the bankers’ past experience in lending to this sector. They have become risk averse when we want 160 million tonne of capacity in India. I think some policy calibration is required on lending in general, and specifically to the steel sector for both working capital and long term finance.”
钣金展-激光展-2020年第二十一届广州国际激光设备及钣金工业展
-2020
China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
-Sheet metal exhibition, Sheet metal expo,
2020 Sheet metal exhibition, 2020 Sheet metal expo, China Sheet metal
exhibition, China Sheet metal expo, Laser Equipment exhibition, Laser Equipment
expo, 2020 Laser Equipment exhibition, 2020 Laser Equipment expo, Laser exhibition, Laser expo
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