Steel

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Over the past decade, India has emerged as a major participant in the global steel market, both as one of the most rapidly growing consumption centre and also a significant supply-side player to be reckoned with. The country is at an inflection point, where its buoyant economic situation and natural competencies promise to usher in an era of sustained high growth rates for the steel industry, facilitated by the Government's initiatives to create a supportive environment for its end-user sectors. These are, nonetheless, tempered by uncertainties regarding the swiftness with which pending structural bottlenecks can be removed, and clarity on policy issues concerning the upstream mining sector (like land acquisition, allotment of mines, iron ore exports, etc.) can be achieved. With rapid steelmaking capacity expansion to meet the projected rise in steel use, domestic finished steel production grew at a CAGR of 8.2 per cent during FY05-FY13. Despite of a robust growth in production, domestic steel producers have failed to match the growth rate of domestic demand for steel in the recent past. This has resulted in India becoming a net importer of finished steel products. However, with consistent increase in capacities, CARE Research foresees India shifting into a net exporter of steel in the next two years.

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Updates

    • Monthly Update June-14

    • Monthly Update May-14

      Subdued steel demand pushes India in over-supply zone....

    • Monthly Update Apr-14

      Domestic long products fair better than flats....

    • Monthly Update Mar-14

      Not a good start, global steel production declines in Jan'14....

    • Monthly Update Feb-14

      Asia provides boost to global steel growth in CY13, as developed nations witness a decline....

    • Monthly Update Jan-14

      Players lookout for new markets, India turns net-exporter of steel....

    • Monthly Update Dec-13

      China, USA and Japan witnessing tremendous production growth, India lagging behind....

    • Monthly Update Nov-13

      China's production witnesses a double digit Y-o-Y growth in Sep'13, India lagging behind world average....

    • Monthly Update Oct-13

      World's crude steel output swells up in August; China's augment being the underlying....

    • Monthly Update Sep-13

      China, India and USA drive up global steel output in July CY13....

    • Monthly Update Aug-13

      Topsy-turvy; steel demand from China, Europe show signs of recovery, emerging markets remain weak....

    • Monthly Update Jul-13

      The growth rate of domestic production dips well below global aggregate in May 2013....

    • Monthly Update Jun-13

      Pre-monsoon activity drives demand for long products, while sliding auto sales impact flats demand....

    • Monthly Update May-13

      Change in duty structure further intensifies pressure on the already struggling margins of secondary producers....

    • Monthly Update Apr-13

      India struggling to find its feet back however outpacing other economies in the backdrop of global uncertainty....

    • Monthly Update Mar-13

      Long steel demand turns positive as the construction industry finds a rung on the growth ladder....

    • Monthly Update Feb-13

      Despite a moderate growth, India continues to maintain its position as the 4th largest crude steel producer globally....

    • Monthly Update Jan-13

      India among the key contributors to the improved global steel output....

    • Monthly Update Dec-12

      Indiscipline is the word, despite slowing demand, capacity-production increases, prices decline....

Impact Analysis

  • “Customizing steel- can retail therapy heal the wounds?”

    There seems to be no respite for the global steel industry.....

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  • Wheezing China gives way to India

    As if nothing has happened, post the financial crises, global commodity markets witnessed a sharp rebound in demand during Calendar Year (CY) 10 and C.....

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