Free Articles  >>  Business And Finance >> 

Global Steel Market Faces a Cyclical Upturn with India Becoming the Bright Spot

With the countryâs increased demand from the construction, automotive and infra sectors, India is seen as a âbright spotâ for the global steel output growth. The reports of the World Steel Association have recorded 4 per cent growth in steel production in the Indian domestic market. Revitalization of Indian steel market is made possible as the Government spearheads the development in the steel industry by making upgrades to the existing steel mills and encouraging state-owned companies to step into building new steel plants.

The Present Day Market Conditions

The latest provisional data from Joint Plant Committee shows that Indian crude steel production during April-November 2017 was 66.7 million tons, a growth of 4.5% Year Over Year. Also, the consumption of total finished steel saw a growth of 4.2% to climb to 56.778 million ton.

Indian Steel Market â Predictions

The World Bureau of Metal Statistics forecasts Indiaâs steel output to average annual growth of 8.9% during 2017-2021, higher than 2.9% during 2012-2016. The report also adds, âIndiaâs steel output will grow from 88.4 million tons (MT) in 2017 to 128.6 MT by 2021 and the countryâs share of global steel production will accelerate from 5.4% in 2017 to 7.7% in 2021.â

Infrastructure Projects in India to Raise the Steel Demand

The following infrastructure projects in India proposed by the Prime Minister Narendra Modi have led to the increase in steel demand.

- The Varanasi Smart City Project

- National Steel Policy

- Modiâs Housing Scheme for All

- Bharatmala Project

Steel Scrap Import Slacks in India

Due to the high metal price and the sluggish steel market, the import market of steel scrap runs dim in India and is predicted that the import market will not turn active in a short time. With an increase in steel output, India looks to become less reliant on import scraps. This downward trend is evident by the price differences for steel scrap imports in both the domestic and international market. The implementation of the new Indian Metals Recycling Policy drags down the import of steel scrap and gives way for the leading players such as Tata Steel Recycling & Mahindra Intertrade to collect and process more domestic scrap.

âIndiaâs steel sector is expected to grow from 89 million metric tons per year of output currently to as much as 300 million metric tons by 2030. Also, the ferrous scrap deficit is poised to grow from 5 million tons per year currently to up to 9 million tons by 2022,â according to Sunil Barthwal of Indiaâs Ministry of Steel.

To cover the gap between scrap demand and its supply in the domestic market, India need âhundredsâ of shredding plants and the Government is working towards its ambition to become self-sufficient in scrap.
About Author Guna Seelan :

The author of this article is a leading scrap dealer in India with over a decade of experience in the industry. In this article, he writes about the current state of" target="_blank">steel market in India and the increasing demand for domestic steel scrap. Visit" target="_blank"> for more information.

Article Source:
Article Url:

Article Added on Sunday, March 4, 2018
Other Articles by Guna Seelan

SCRAP METAL DEFINED: Lets first know what is meant by a scrap metal. As we all know scrap is something that is worthless. But scrap metal is the discarded metal suitable for reprocessing. E.g. Scrap iron is the one to be melted again and reworked. DEMAND OF SCRAP METAL IN ASIAN MARKETS: Before going into the Asian market alone, lets see what the demand of steel in the overall market is. In a survey by Tom Stundza a purchase manager, it was noted that World steel consumption will...

In this short passage, we will guide you through the steps in making a key out of steel to open the doors to waste reduction and we'd explain the importance of steel in making the key! Don't get confused. To know more about what we are about to say, just keep reading Steel use is dominated by the automobile, household appliance and construction industries. There is hardly any product that people use that does not contain steel included or not made of steel. Among all other steel based...

Money doesn't grow on trees? is an old proverb. How about this one? There are dollars lying in dustbins and junkyards? Yes there's a lot of money lying in waste disposal areas and junk yards. Unable to believe it? Everyone knows there would be robbery where there is lot of money and where the robbers remain un-noticed. Metal prices have come up about 25% and that has thieves targeting construction sites and junkyards. The example stated about the thieves is just to define the demand for metal...

Wholesalers And Retailers
Most retailers go to wholesalers every morning or every second day to buy the goods they need for their customers. Fruit and vegetables are perishable and keeping them a few days requires quite heavy infrastructure. Thats why retailers tend to come very regularly to have the freshest products they can. It is very important for them to provide their customers with a range of products that is sufficiently diverse and where the goods are present in a regular way, even though there are sometimes...

Success is not only measured by how much money we make, but also the impact we have. Don't fear that I am going to overwhelm you with some with numbers, graphs, and figures to explain you the success of recycling. Nowadays recycling is appreciated and practiced from schools to international organizations. They are digging... Oh sorry that's not digging; they are mining the garbage and are finding dollars out of it while caring the environment too. There are many recoverable metals in our...

Effective wholesale business in Oman
Effective wholesale businesses in Oman can be carried out by executing some of the below said key points. Knowing the Market status Knowing the market challenges Advertising Purchases management Sales management Business models Oman is a country whose wealth has been increased due to oil wealth. So, according to this, the business has to be planned. Reports have to be maintained about the market status to bring up the business. Without effective...

International Wholesale Suppliers in Mauritius
The International Wholesale Supplier in Mauritius brings out all kinds of wholesale suppliers available in Mauritius. The country is a famous tourist spot. It is a part of Mascarene Islands. Recently the country is developing its international business through the Indian Ocean. Technology has been greatly grown in the Mauritius, which has in turn driven the wholesale suppliers. The national investment promotion agency and the Board of Investment (BOI) in Mauritius has brought most of the...

Wholesale Business Efficient Distribution Chain
Whole sale in literal terms mean the sale of complete bulk entity or commodity. Whole sale Business refers to the business transaction conducted through acquisition of products in large quantity and at a discounted rate. There are whole sale dealers and agents in almost every business segment, ranging from safety pin to the more sophisticated electronic market. These whole sale dealers act as a conduit between the vendors and the manufacturers. Vendors are referred to those business associates...

Wholesale Products on Discounted Rates
All the types of retailers such as the ones selling their products through the web space or the ones operating from the market places, work on the margins available on the sale of product. These products thus procured from the dealer or from other sources are bought at a lower price and after levying a small margin amount on the cost of procurement and then resell it to the consumer. These margins can be further reduced to encourage more sales and thus advertised as discounted sale of the...

Wholesale Seller s And Retailer s Point Of View
First, a wholesale seller answers only for the goods that he can provide at a given moment. He considers all the requests, ordering them on one principle: the regular agents come first, less well known agents come last. Among regular agents, he chooses randomly. Two elements are important for the wholesale seller when he has to make decision over the price of a transaction: if the retailer is considered as regular; the size of the basket it asks for. Any retailer who asks for three...

Click here to see More Articles by Guna seelan
Publishers / Webmasters
Article ID: 492785
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:

78 Users Online!!
Related Articles:
Latest Articles:
Business And Finance >> Top 50 Articles on Business And Finance
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts

Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of and/or its owners.

Copyright AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Buy Chocolates Provided By AwareIndia

Company IDS