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India will be 2nd largest steel producer over 12-18 mths: S&P Global Platts

Capacity addition in anticipation of increase in demand to place India after China

Aditi Divekar  |  Mumbai 

steel

India is poised to become the second biggest producing country in the world after over the next 12-18 months, as steelmakers continue adding capacities in anticipation of upcoming demand, said in its report today. 

This production increase is despite the slow pace of current consumption in the country, it said. India’s overall finished output over Apr-Jan was only 82.87 million tonne, about 68% of installed capacity of 122 million tonne per annum.

India’s ministry is drafting a new policy to raise the country’s to 300 million tonne by 2030-2032. Previously, this target was set for a time period of 2025.

A number of private and state-owned mills have almost doubled their steelmaking capacities over the past five years, informed the report. The front runner was India’s largest steelmaker, state-owned Authority of India (SAIL), which increased crude to 20 million tonne per year from the previous 13 million.

But the increase in demand for is struggling to keep pace with the rise in capacity. Recent data from India’s Joint Plant Committee shows that during Apr-Jan, SAIL’s overall finished output rose by an impressive 15.6% year-on-year, but only reached 9.95 million  tonne, way behind installed capacity of 12 million tonne per year.

While management aims to produce about 15 million tonne of finished during the fiscal year ending March 31, company officials estimate real output at about 13 million tonne, said the report.

JSW Steel, Jindal & Power, Tata Steel, Essar Steel, Bhushan and Rashtriya Ispat Nigam are among other big producing companies in the country. 

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India will be 2nd largest steel producer over 12-18 mths: S&P Global Platts

Capacity addition in anticipation of increase in demand to place India after China

Capacity addition in anticipation of increase in demand to place India after China
India is poised to become the second biggest producing country in the world after over the next 12-18 months, as steelmakers continue adding capacities in anticipation of upcoming demand, said in its report today. 

This production increase is despite the slow pace of current consumption in the country, it said. India’s overall finished output over Apr-Jan was only 82.87 million tonne, about 68% of installed capacity of 122 million tonne per annum.

India’s ministry is drafting a new policy to raise the country’s to 300 million tonne by 2030-2032. Previously, this target was set for a time period of 2025.

A number of private and state-owned mills have almost doubled their steelmaking capacities over the past five years, informed the report. The front runner was India’s largest steelmaker, state-owned Authority of India (SAIL), which increased crude to 20 million tonne per year from the previous 13 million.

But the increase in demand for is struggling to keep pace with the rise in capacity. Recent data from India’s Joint Plant Committee shows that during Apr-Jan, SAIL’s overall finished output rose by an impressive 15.6% year-on-year, but only reached 9.95 million  tonne, way behind installed capacity of 12 million tonne per year.

While management aims to produce about 15 million tonne of finished during the fiscal year ending March 31, company officials estimate real output at about 13 million tonne, said the report.

JSW Steel, Jindal & Power, Tata Steel, Essar Steel, Bhushan and Rashtriya Ispat Nigam are among other big producing companies in the country. 
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Business Standard
177 22

India will be 2nd largest steel producer over 12-18 mths: S&P Global Platts

Capacity addition in anticipation of increase in demand to place India after China

India is poised to become the second biggest producing country in the world after over the next 12-18 months, as steelmakers continue adding capacities in anticipation of upcoming demand, said in its report today. 

This production increase is despite the slow pace of current consumption in the country, it said. India’s overall finished output over Apr-Jan was only 82.87 million tonne, about 68% of installed capacity of 122 million tonne per annum.

India’s ministry is drafting a new policy to raise the country’s to 300 million tonne by 2030-2032. Previously, this target was set for a time period of 2025.

A number of private and state-owned mills have almost doubled their steelmaking capacities over the past five years, informed the report. The front runner was India’s largest steelmaker, state-owned Authority of India (SAIL), which increased crude to 20 million tonne per year from the previous 13 million.

But the increase in demand for is struggling to keep pace with the rise in capacity. Recent data from India’s Joint Plant Committee shows that during Apr-Jan, SAIL’s overall finished output rose by an impressive 15.6% year-on-year, but only reached 9.95 million  tonne, way behind installed capacity of 12 million tonne per year.

While management aims to produce about 15 million tonne of finished during the fiscal year ending March 31, company officials estimate real output at about 13 million tonne, said the report.

JSW Steel, Jindal & Power, Tata Steel, Essar Steel, Bhushan and Rashtriya Ispat Nigam are among other big producing companies in the country. 

image
Business Standard
177 22