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 Analysis Of Steel Industry
Global Scenario
• In 2016, the world crude steel production reached 1630 million tonnes (mt) and showed a growth of 0.6%
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 6.1% in 2017 and by 7.1% in 2018
while globally, steel demand has been projected to grow by 1.3% in 2017 and by 0.9% in 2018.
• Per capita finished steel consumption in 2016 is placed at 208 kg for world and 493 kg for China by World
Steel Association.

Domestic Scenario
• India was the world’s second largest steel producer, as of 2018. The country is slated to surpass USA to
become the world’s second largest steel consumer in 2019.
• In FY19, India produced 131.72 million tonnes (MT) and 106.56 MT of gross finished steel and crude steel,
respectively.
• Exports and imports of finished steel stood at 0.72 MT and 1.12 MT, respectively, in FY20P (up to May).
• Steel consumption is expected to grow 7.1 per cent year-on-year to 102.8 MT in 2019F. India’s steel
production is expected to increase from 106.56 MT in FY19 to 128.6 MT by 2021.
• The Government has taken various steps to boost the sector including the introduction of National Steel
Policy 2017 and allowing 100 per cent Foreign Direct Investment (FDI) in the steel sector under the
automatic route. Between April 2000 and March 2019, inflow of US$ 11.30 billion has been witnessed in
the metallurgical industries as Foreign Direct Investment (FDI).
• India’s per capita consumption of steel grew to 68.9 kgs, during 2017-18. National Steel Policy 2017 aims
to increase the per capita steel consumption to 160 kgs by 2030-31.