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VOL IX ISSUE 02 AUGUST 2020
Supply Issues, More ‘Ore’ Less
Growth projections for the current fiscal by various global and domestic agencies indicate a sharp contraction of the Indian economy, with predictions ranging from -3.2% to -9.5% against the backdrop of the COVID-19 crisis. Recently, 15th Finance Commission Chairman N.K. Singh said India will see a sharp V-shaped recovery in the third and fourth quarters of the current fiscal… not necessarily because anything fundamental will happen or may happen but because of a lower base. And that FY21 GDP growth would be in negative territory on “serious demand and supply dislocations”.
But, the economy has to show resilience and move on…
Talking of resilience, the sheer buoyancy of seaborne iron ore prices can be attributed to China’s voracious appetite post lock-down and supply disruptions from Brazil. Our cover story on pg. 34 tracks the iron ore scene, global and local. In India, the segment is poised for a change, where supply dynamics are shifting from merchant miners to the mills themselves. Prices are expected to stay subdued in the short term on supply tightness.
Intervista, on pg. 54, caught up with Ruchika Govil, Joint Secretary, Ministry of Steel, who dwells on key topics ranging from Odisha iron ore auctions to scrap, the secondary sector and a lot more.
Coal360, on pg. 10, probes BCCL’s new coal washing technologies and focuses on ECL, on pg. 50 which is targeting quality along with quantity.
Impact, on pg. 20, turns the spotlight on corporates designing infrastructure to fight COVID-19.
Where is the auto sector graph headed? We track it in Industry, on pg. 46.
Plus, we focus on a lot more. Enjoy the read!
Find your answers in Steel 360's August edition
*Steel 360 is a monthly magazine for Iron and Steel industry professionals. Each issue comes up with an exclusive Cover Story and insightful articles from the Industry.