You are here: Home » Economy & Policy » News
Business Standard

Steel output likely to rise 6% to 89 million tonnes in 2017

Steel production is expected to grow due to growing economy and increasing urbanisation


Press Trust of India  |  New Delhi 


India's finished products output is likely to reach 88.6 million tonnes in the current year, registering an increase of 5.7 per cent.

The country produced 83.5 million tonnes (MT) of finished products last year, according to World Association which released its Short Range Outlook (SRO) for 2017 and 2018.

Steel production is expected to grow due to growing economy and increasing urbanisation.

The country's finished steel output is also likely to increase to 94.9 MT in 2018, World Steel Association said.

Finished steel products are those which are obtained upon hot rolling/forging of semi-finished steel -- blooms, billets, slabs. These cover two broad categories, namely long products and flat products.

Steel demand in the emerging and developing economies, including China, which accounts for 30 per cent of world total, is expected to grow by 4 per cent in 2017 and 4.9 per cent in 2018, World Steel Association said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, April 23 2017. 17:18 IST