Smelters in India are focused on more metal and fast growth over the next decade. According to the Steel Association in India, steel output will more than double to meet the needs of the growing economy and rapid urbanization of the country.
Production is set to grow 10 to 12 percent annually, after a record 101.3 million tonnes in the past 12 months, and is projected to reach 240 million tonnes in 2031. Consumption is expected to increase by more than 5 percent this fiscal year from 83.9 million tonnes in the previous one.
India will overtake Japan as the world's second largest steel producer, second only to China, by the end of next fiscal year, as mills are ready to expand capacity to meet growing demand and fill the gap amid declining steel imports. Leading suppliers of the country - JSW Steel Ltd., Steel Authority Ltd. and Tata Steel Ltd. - all finished last year with record production yields and double-digit gains in their shares.
Steel smelting in India to double by 2031
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Azovpromstal® 19 April 2017 г. 22:28 |
