AN OVERVIEW OF STEEL SECTOR

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MINISTRY OF STEEL
Government of India



Global Scenario
  • In 2016, the world crude steel production reached 1628 million tons (mt) and showed a growth of 0.8% over 2015.
  • China remained world’s largest crude steel producer in 2016 (808 mt) followed by Japan (105 mt), India (96 mt) and the USA (79 mt).
  • World Steel Association has projected Indian steel demand to grow by 5.4% in 2016 and by 5.7% in 2017 while globally, steel demand has been projected to grow by 0.2% in 2016 and by 0.5% in 2017. Chinese steel use is projected to decline in both these years - by 1% in 2016 and by 2% in 2017.
  • Per capita finished steel consumption in 2015 is placed at 208 kg for the world and 489 kg for China by World Steel Association.

Domestic Scenario
  • The Indian steel industry has entered into a new development stage from 2007-08, riding high on the resurgent economy and rising demand for steel.
  • A rapid rise in production has resulted in India becoming the 3 rd largest producer of crude steel in 2015 and the country was the largest producer of sponge iron or DRI in the world during the period 2003 to 2015 and was the 2 nd largest producer in 2016 (after Iran).
  • As per the report of the Working Group on Steel for the 12th Five Year Plan, there exist many factors which carry the potential of raising the per capita steel consumption in the country. These include among others, an estimated infrastructure investment of nearly a trillion dollars, a projected growth of manufacturing from current 8% to 11-12%, increase in urban population to 600 million by 2030 from the current level of 400 million, emergence of the rural market for steel currently consuming around 11 kg per annum buoyed by projects like Bharat Nirman, Pradhan Mantri Gram Sadak Yojana, Rajiv Gandhi Awaas Yojana among others.
  • At the time of its release, the National Steel Policy (NSP) 2005 had envisaged steel production to reach 110 million tons (mt) by 2019-20.
  • The National Steel Policy 2017 has been formulated keeping in mind the rapid developments in the domestic steel industry (both on the supply and demand sides) as well as the stable growth of the Indian economy since the release of the NSP 2005. The National Steel Policy 2017 is still in the draft stage.
Production
  • The steel industry was de-licensed and decontrolled in 1991 & 1992 respectively.
  • India is currently the 3 rd largest producer of crude steel in the world.
  • In 2015-16, production for sale of total finished steel (alloy + non-alloy) was 90.98 mt, a decline of 1.3% over 2014-15.
  • Production for sale of Pig Iron in 2015-16 was 9.23 mt, a decline of 4.8% over 2014-15.
  • India was the largest producer of sponge iron in the world during the period 2003-2015 and was the 2 nd largest producer in 2016 (after Iran). The coal-based route accounted for 89% of total sponge iron production in the country in 2015-16.
Location: Hyderabad, Telangana, India

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