Advertise Here [728 W x 90 H pixels]
Construction : Web Exclusive | May 2017 | Source : CW-India

India’s steel output to rise to 110 mt in 2018; poised to become the second largest steel producer

India is the bright spot for growth in the global steel industry, according to BMI Research, which said demand from auto and infrastructure industries continues to accelerate. The report said that the government has been spearheading a push to boost capacity, with upgrades at existing mills as well as state-owned companies building new plants. And now, as mills ramp up steel production to record levels with substantial infrastructure investment, growth in residential construction, and the growth of the shipbuilding, defense, automobile and manufacturing sectors, India is set to overtake Japan to become the world’s second-largest steelmaker. The country’s output will rise from 103 million tonne (MT) in 2017 to 110 MT in 2018 and 118 MT by 2019, according to reports, which also indicate that the growth will see India draw level with Japan in 2018 and eclipse it after that. By 2022, India will pump out 146 MT to Japan's 118 MT. But while India’s production is set to surge, its output will remain dwarfed by the world's biggest producer, China.
 
Advertise Here [728 W x 90 H pixels]