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Domestic stainless steel output to rise 9% to 3.6 mn tonnes by year-end

Industry expected to produce close to 4 million tonnes of stainless steel in 2018

Press Trust of India  |  New Delhi 

stainless steel, steel

Domestic production will reach the 3.6-million tonne mark at the end of 2017, industry body ISSDA has said.

If the output crosses that level, it will be about 9 per cent more than last year's.

"The production of in the country at the end of the calendar year 2016 was 3.3 million tonne," President of Indian Development Association (ISSDA) told PTI, citing data collected by the International Forum (ISSF).

"At present, we (the industry) are growing at a rate of 8-9 per cent year-on-year," he added.

The growth is in response to the rising demand for stainless steel, mainly from sectors such as auto, roads and highways, housing and the like, the industry veteran said, adding that the demand will keep rising every year.

Besides, protectionist measures imposing a definitive Countervailing Duty (CVD) on certain products from have helped the industry, he said.

The government had removed the import duty on nickel, a key material required to produce Now, the ministry wants the import duty on ferro-nickel and scrap to be removed.

This will further bring down the production cost of in the country, he added.

For 2018, the domestic stainless industry is expected to produce close to 4 million tonnes.

is the second-largest producer of after it overtook in 2016. remains the leader.

First Published: Sun, November 19 2017. 20:19 IST