Steel scenario
Steel Scenario Executive Summary · India is the tenth largest producer of steel in the world, but per capita consumption is one of the lowest. ... Tata Steel has been the most active in this front and has emerged as one of the lowest cost producers in the world. It has exhibited what an Indian company can do in the steel industry. · Difficult times have also resulted in changes in the way steel is being marketed across the country. ... Tata Steel is drawing up plans for brownfield expansion of about 1-2mtpa capacity and this is the only significant capacity expansion likely if plans are implemented. · Globally there is a move to cut production capacity to reduce overcapacity, boost steel prices and improve the fortunes of the steel industry. We look into the proposals to find whether such a plan would meet with success or not Overview of the Indian steel industry The Indian iron and steel industry is nearly a century old with Tata Iron & Steel Co (Tata Steel) being the first integrated steel plant being set up in 1907. ... At present India is the tenth largest producer of steel in the world. In India, a major part of steel is consumed in engineering applications, followed by automobiles and construction. The growth of steel, as is well known, is dependent upon the growth of the economy, industrial production and infrastructure sectors. Over the last few years the performance of the Indian steel industry has been adversely affected due to overcapacity, cheap imports, economic slowdown, declining global steel prices and also anti dumping duty imposed by USA on Indian exports. Most major steel companies, with the exception of Tata Steel, have thus been reporting losses.