Archive · 30 May 2025
India's Steel Industry Poised for Continued Growth
Imagine India is doing great in making steel.
While other countries made less, India made a lot more!
This is because more people are buying things like houses and cars, needing steel.
Experts think the steel companies in India will keep growing.
Even though steel got a little cheaper from other places, the government put a tax on imported steel to help the Indian companies.
So, things are looking good for steel in India!
India's steel output increased 33% from 2019-2024 while global output decreased.
India shows consistent growth in carbon steel, stainless steel, coal, and aluminum.
Consumption of carbon and stainless steel has grown at 7-8% annually.
Jefferies forecasts 8-10% CAGR for steel companies between FY25 and FY27.
The government imposed a 12% safeguard duty on flat steel imports.
- Who
- India, Jefferies
- What
- India's steel industry shows consistent growth, unlike other economies.
- When
- 2019-2024 (steel production growth); FY25-FY27 (forecasts)
- Where
- India
- Why
- Driven by strong demand in sectors like infrastructure, power, and manufacturing.
- Steel Production Growth (2019-2024)
- India: 33%; Global: -1%
- Carbon/Stainless Steel Consumption CAGR
- 7-8% (past 15 years)
- Steel Volume CAGR Forecast (FY25-FY27)
- 8-10%
- Aluminum Demand CAGR (2017-2024)
- 7%
- Safeguard Duty
- 12% on flat steel imports (April 2025, 200 days)
- Projected Steel Prices (FY26-FY27)
- Rs 52,000-53,000 per tonne