Global
Steel Industry
Global
steel demand is rising on the back of accelerated infrastructure
activity in China, CIS and India, housing boom in USA,
and white goods resurgence in Europe. During the ecent
recessionary phase, the industry has consolidated in
terms of ownership as well as mothballing of inefficient
capacities. Steel prices continue firming up.
Steel production
declined in nearly all the major steel producing countries
and regions including the EU, North America, South America
and the CIS in 2008. However, Asia, in particular China,
and the Middle East showed positive growth in 2008.
Worldwide steel production has shown an acceleration
of negative growth from September to 2008 year end.
World crude steel output for December 2008 recorded
a decrease of -24.3% compared to 2007. Asia produced
770 mmt of crude steel in 2008, 58% of world total steel
production, 1.9% growth over 2007. South Korea and India
recorded increases of 3.8% and 3.7% respectively. Japan
produced 118 million t in 2008, a decrease of -1.2%
on 2007.
Indian Steel Industry
Indian
steel production has done well despite the global meltdown.
Steel production witnessed a 2.5 percent jump in January
2009 as demand for products in the construction sector
went up slightly. This increase in production is indeed
a good sign given the fact that the domestic steel industry
for October
The
Indian steel industry has entered into a new development
stage from 2005–06, resulting in India becoming
the 5th largest producer of steel globally. Producing
about 53 million tonnes (MT) of steel a year, today
India accounts for a little over 7 per cent of the world's
total production However, it has a very low per capita
consumption of steel of around 46 kgs as against an
average of 200 kgs of the world. This wide gap in relative
steel consumption indicates that the potential ahead
for India to raise its steel consumption is high
Being
a core sector, steel industry tracks the overall economic
growth in the long term. Also, steel demand, being derived
from other sectors like automobiles, consumer durables
and infrastructure, its fortune is dependent on the
growth of these user industries
India's
steel consumption will continue to grow by 16 per cent
annually till 2012, fuelled by demand for construction
projects worth US$ 1 trillion. The scope for raising
the total consumption of steel is huge, given that per
capita steel consumption is only 35 kg – compared
to 150 kg across the world and 250 kg in China.
Future
of Steel lies in India
- Growth in the Global
steel industry
- India promises high
economic growth
- Economic development
in India will drive domestic steel consumption
- India’ s participation
in the International trade of steel
- Advantage points of
Indian steel
- Enablers, which will
drive success of Indian Steel Industry
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