Iift 2015 Question 92
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IIFT
From the first two paragraphs we can infer that privatization thrived because of the falling prices and overcapacity.
In the first paragraph "Recovery from the two World Wars and the Great Depression of the 1930s caused massive disruption and layoffs.
Over-capacity and low steel prices continued to play havoc through the 1970s and 1980s and politicians began to lose their belief that the wealth of a nation was directly coupled to its steel production." explained the reason for privatization of the steel industry which is given in the second paragraph
Hence Option C is correct.