3rd International Exhibition and Conference on Metal Production, Metal Processing and Metal Working & Allied Industries
20 - 22 September 2019 Bombay Exhibition Centre, Mumbai, India

Industry Overview

The steel sector has been a major contributor to India’s manufacturing output. The Indian steel industry is very modern with state-of-the-art steel mills. It has always strived for continuous modernisation and up-gradation of older plants and higher energy efficiency levels.

Government of India’s focus on infrastructure and restarting road projects is aiding the boost in demand for steel. Also, pay attention towards value addition as well as production of special steel that has multiple uses including in the automobile sector, further likely acceleration in rural economy and infrastructure is expected to lead to growth in demand for steel.

The demand for the special steel is going to increase as industries like shipping, automobile, defence are growing in the country where such steel will be required. The growth of consumption of special steels depends on the growth of performance of the end using industries, the biggest consumer for special steel is automobile industry followed  by seamless steel tubes and pipes manufacturers which are having very high demand due to higher growth in its consuming industries like petroleum and petro-products. The other good consumers of special steels are defence, bright bar manufacturers, railways, fasteners and ball & roller bearing manufacturers.

Few other facts are

India’s finished steel consumption grew at a CAGR of 5.69 per cent during FY08-FY18 to reach 90.68 MT.

India’s crude steel and finished steel production increased to 102.34 MT and 104.98 MT in 2017-18, respectively.

In 2017-18, the country’s finished steel exports increased 17 per cent year-on-year to 9.62 million tonnes (MT), as compared to 8.24 MT in 2016-17. Exports and imports of finished steel stood at 0.99 MT and 1.22 MT, during Apr-May 2018.