Tata Steel CEO Mr. T.V. Narendran, during a video conference call with the company's suppliers and ancillary production owners last week, said, "The ongoing lockdown forced the company to start the plant at 50% capacity, but it has improved our efficiency."
He added: “Demand from the domestic market mainly comes from healthcare, equipment, oil and gas industry. Demand from the automotive and construction sectors, which make up the bulk of our demand, is currently very low. ”
The Indian Steel Association predicts an 8% decline in domestic demand in FY21, and we expect JSWS and TSL standalone sales to decline 6%.
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