Raw material prices may hit margins, says JSW Steel's Seshagiri Rao

India requires eight to nine mt (more) every year. The capacities that are coming up might not be sufficient to meet this growing demand, says Rao

Steel prices are falling globally and in India. Seshagiri Rao, joint managing director and group chief financial officer at JSW Steel, tells Ishita Ayan Dutt, that rising imports could be an area of concern, particularly in the context of falling prices. Edited excerpts:

The market has softened. What has changed globally and in the domestic market?

Underlying demand remains robust, both in India and globally. However, on the supply side, a lot of material has come into the market, particularly from China, as also other places. Global steel capacity utilisation went up and the margins were quite attractive in the