India produced 101.4 million mt of crude steel in 2017, making it easily the third-largest steel producer in the world, and the country is on track to overtake second-placed Japan this year. Indian steel production over January-June rose 5.1% year on year to 52.8 million mt, according to Joint Plant Committee data. Only China among the major producing countries has seen greater output growth, at 6%, this year. Japan’s steel production has been fairly stagnant for almost a decade. More importantly, India has a very long way still to run – both in economic and steelmaking terms. Under India’s National Steel Policy, the Indian government has set a target of reaching 300 million mt/year of crude steel capacity by 2030, driven by per capita steel consumption rising to 158 kg from around 61 kg currently. New Delhi wants Indian steel to supply the ‘Make in India’ program and plans to lift manufacturing’s share of GDP to 25% by 2022. INDIA’S STEEL EXPANSIONS Utilizing S&P Global subsidiary CRISIL’s steel mill data, the map produced here covers all steel mills in India with a capacity of at least 500,000 mt/year. At present, the data captures 125 Indian steel mills with an estimated… continue reading
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Source: CTRM Center