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India’s steel production, and foreign trade consumption estimates for 2018-19 - Mr. Sushim Banerjee

Mar 14,2019

Mr. Sushim Banerjee DG of Institute for Steel Development & Growth (INSDAG) in his personal capacity wrote that India’s crude steel production at 97.15 million tonnes in the first 11 months of the current fiscal has attained growth of 3.8% over last year. At this rate, it is likely to be 108-110 million tonnes in FY19. The imports of total steel, including semis at 7.2 million tonnes during the period, which is a 2% increase as compared to the previous year, is likely to end the year with 8.6-8.8 million tonnes. The export of total steel at 7.8 million tonnes during the period, a fall of 35%, would reach 8.5-8.6 million tonnes by the end of the current year. This makes the finished steel consumption at 88.12 million tonnes in the first 11 months of the current year that grew 7.4% as against the previous year to reach 98-100 million tonnes in FY19.

 

An annual review of India’s steel production, consumption, import, and export should also include an analysis of the role of the major, small and medium enterprise sector. In terms of the process route, the blast furnace-basic oxygen furnace (BF-BOF) route had a share of 46% in FY18 and the balance 54% is held by the electric arc furnace/induction furnace (EAF/IF) route, with induction furnace at 28.3%.

 

The ongoing capacity augmentation in the blast furnace-basic oxygen furnace route by major steel producers is likely to make some changes in the relative share of process routes and though some indications have been provided in National Steel Policy 2017, it would be an interesting analysis how the scenario would be actually emerging in the coming years based on the comparative suitability/viability in terms of costs, availability of environment regulations, raw materials, power, and scrap.