Industry Overview

The Indian steel industry, one of the core industries in India, is more than a century old when the first integrated steel plant was established by Tata Iron & Steel (popularly known as Tata Steel) in 1907. India is currently the world's fourth largest producer of crude steel and is expected to become the second largest producer by 2015.

worldsteel Short Range Outlook 2015 - 2016

The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2015 and 2016. worldsteel forecasts that global apparent steel use will increase by 0.5% to 1,544 Mt in 2015 following growth of 0.6% in 2014. In 2016, it is forecast that world steel demand will grow by 1.4% and will reach 1,565 Mt.

The outlook for the steel industry suggests slow growth for global steel demand.
Commenting on the outlook, Hans Jurgen Kerkhoff, Chairman of the worldsteel Economics Committee said, “We are releasing a restrained growth outlook for the global steel industry mainly due to the deceleration in China. The outlook also reflects the influence of major structural adjustments in most economies, particularly owing to limited investment growth post 2008. As these changes take effect, the steel industry will experience a slower pace of growth, it will focus on operational efficiencies and on the value that steel products generate for customers and society.”