As the pandemic and the lockdown severely impacted construction and allied activities, a majority of the steel manufacturers believe demand in the sector will start to recover in the third quarter of the financial year 2020-21, as per a survey by Crisil Research.
“Nearly 60 percent of the respondents expect demand to recover from the third quarter, as infrastructure and construction activities gather pace, migrant workers return to work, and the fiscal measures are taken by the government improve the availability of funds,” a Crisil statement said.
Further, around 80 percent of the respondents feel pent-up demand from awarded or ongoing infrastructure projects, especially roads and railways, will drive recovery, especially for long steel, and galvanized products. (IANS)