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Indian steel industry set to recover, after strong headwinds

Indian steel industry set to recover, after strong headwinds
Issue Time:2017-03-10
Indian steel industry looks to improve after facing strong headwinds from global factors.
 
Total exports by India recorded 150 percent Y-O-Y jump in February 2017 at 0.75 million tonnes marking high demand in the industry.
 
However, total imports for the month declined significantly by 46 percent Y-O-Y at 0.49 million tonnes.
 
Declining import is a significant development for the sector representing an opportunity for domestic players to regain their market share.
 
Domestic steel demand is also rising as steel consumption for February rose 3 percent over Feb 2016.
 
As government focuses on more steel intensive infra projects such as railways, ports, steel consumption demand would see a bullish trend.
 
The jump in production comes in line with government’s objective of reducing dependency on imports guided by protective policies including anti-dumping and minimum support price for domestic producers.
 
Domestic steel players are also ramping up production coupled with efficient capacity utilisation paves tough path ahead for the steel industry. 
- See more at: http://www.metaljunction.com/news/newsdetail/Indian-steel-industry-set-to-recover-after-strong-headwinds_1#sthash.tPc8mVes.dpuf
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