The ongoing consolidation of the Indian steel industry is a "right step" in bringing back growth and credibility to the domestic markets, Nathani Group's Zain Nathani said at the BIR 2019's World Recycling Convention & Exhibition in Singapore this week.
The vice-president of BIR's Ferrous Division said bankrupt mills such as Bhushan Steel, Monnet Ispat & Energy, Essar Steel and Usha Martin have all found new owners in the likes of Tata Steel and Jindal Steel & Power and this was a positive development for the Indian steel industry."While finished steel and ferrous scrap prices are still volatile, the consolidation of the industry will start prices moving in a more positive direction and continue so for the rest of the year,"...