Steel Industry Report

8/15/2019 Steel Industry Report

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Steel Industry Assignment

Table of ContentsSteel Industry........................................................................................................ 3

Introduction........................................................................................................... 3

An Overview.......................................................................................................... 3

Apparent steel use..............................................................................................4

Apparent per capita use.....................................................................................5

CHINA.................................................................................................................... 7

Exports I!ports "y C#ina.................................................................................$

%&A'I(................................................................................................................. )*

Exports and i!ports "y %ra+il...........................................................................))

IN,IA....................................................................................................................)-

Exports and i!ports "y India............................................................................)4

&eerences...........................................................................................................)5

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Steel Industry

Introduction 1#e Steel Industry is a 2ey driver o t#e worlds econo!y. 1#e industry

directly e!ploys over two !illion peoples worldwide alon0 wit# two !illion

contractors and a"out our !illion people in t#e supportin0 industries.

Considerin0 t#e act t#at steel is a 2ey product supply to industries suc# as

auto!otive construction transport power and !ac#ine 0oods. 1#us steel

industry is a source o e!ploy!ent or !any peoples. oreover steel is t#e

!ain !aterial used in deliverin0 renewa"le ener0y6 solar tidal and wind.

An Overview 1#e orld Crude Steel production #as increased ro! 77* !illion tonnes in

)$$* to )448 !illion tonne till Nove!"er -*)3 i.e. in two decades t#e production

#as al!ost dou"led. 1#e 5 year CA9& or steel production #as re!ained around

3 to 7 : w#ic# #as "een a very 0ood si0n. 1#e ollowin0 0rap# s#ows t#e orld

Crude Steel production.

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4**

;**

8**

)***

)-**

)4**

);**

World Crude Steel production

orld Crude Steel production

In Million Tonnes

Source6 SA Note6 <or year -*)3 data till Nove!"er is ta2en

C#ina #as re!ained t#e worlds lar0est producer in -*)3 =7)-

!illion tonne> ollowed "y ?apan =)*) !illion 1onne> t#e @SA =7$ !illion tonne>

and t#e India =7- !illion tonne>. C#ina #as increased its s#are in total world

production ro! )5: in -*** to 4$: in -*)3. 1#e re0ion wise s#are is

represented in ollowin0 c#arts. it# t#e increase in steel production "y C#ina

t#e ot#er countries percenta0e in world steel production #as allen 0reatly or

exa!ple ?apan percenta0e #as decreased ro! )-.5-: in -*** to ;.$$: in

-*)3.

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CAGR of Worldproduction

ear &ate)$$*B$5

B*.5$:

)$$5B** 3.*8:-***B*5 7.8):-**5B)* 5.7*:

-*)*B)3 3.$4:




C#ina 4$:

?apan 7:

Ot#er Asia )):

Ot#ers ;:

E@B-7 )):

Ot#er Europe -:

CIS 7:NA<1A 8:

Crude Steel roduction! "#$%

C#ina -3:

?apan )):

Ot#er Asia )):

Ot#ers $:

E@B-7 -*:

Ot#er Europe -:

CIS )):

NA<1A )3:

Crude Steel roduction! "##%

World Total& )448 !illion tonnes =till Nov> World Total& $7) !illion

tonnes

1#ere are various !easures o !easurin0 steel de!and. One o t#e !ost

oten used !easures is apparent steel use 'AS()! w#ic# is expressed in

volu!e ter!s as deliveries !inus net exports o steel industry 0oods. Anot#er

!et#od ollows AS@ calculations "ut ta2es into account c#an0es in stoc2 levels

and !easures real steel use 'RS()! deDned as AS@ !inus net accu!ulation o

stoc2s. Anot#er !easure used is total steel use 'TS()* 1S@ is o"tained "y

deductin0 net indirect exports o steel ro! AS@.

Apparent steel useApparent steel use is t#e use o Dnis#ed steel product. 1#e worlds total

apparent use o steel is 0rowin0 at a CA9& o 3.7: since -**;. It is orecasted

t#at worlds steel de!and will 0row at 4.5: it increased ro! ))3$.4 !illion

tonne in -**; to )4)-.; !illion tonne in -*)-. C#ina is t#e !aor apparent user

o steel wit# its apparent usa0e reac#in0 up to ;4;.- !illion tonne in t#e year

-*)-. C#inas apparent usa0e o steel is al!ost a"out 5*: o worlds total

apparent use. oreover t#e 0rowt# in apparent steel use "y C#ina is !ore t#an

t#at o developed econo!ies. 1#e ollowin0 0rap# s#ows t#e apparent steel use

"y C#ina ,evelopin0 econo!ies excludin0 C#ina and ,eveloped econo!ies.

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Apparent Steel (se

,eveloped Econo!ies ,evelopin0

Econo!ies excludin0

C#ina

C#ina :9rowt#B,evelopedecono!ies

:9rowt#BC#ina

In Million Tonnes

Source6 SA

Asias apparent steel usa0e in t#e year -*)- stood at around ;5: o worlds total

apparent steel use w#ic# #as increased ro! 4$: in t#e year -**3. <ollowin0 c#arts

0ives re0ion wise apparent steel use.

C#ina 45:

?apan 4:Ot#er Asia )5:

Ot#ers $:

E@B-7 )*:

Ot#er Europe -:

CIS 4:NA<1A )*:

Apparent Steel (se! "#$"

C#ina -7:

?apan 8:

Ot#er Asia );:Ot#ers $:

E@B-7 )$:

Ot#er Europe -:

CIS 4:

NA<1A )5:

Apparent Steel (se!"##%

Apparent per capita use

In t#e year -*)- worlds avera0e steel use per capita was -);.$ 20

sli0#tly up ro! t#e -);.4 20 in -*)). Avera0e per capita steel consu!ption in

Asia stood at -43.5 20 in -*)- risin0 ro! -4).4 20 in -*)). eanw#ile in t#eE@ t#e -*)- avera0e was down ro! 3*7.720 in -*)) a!ountin0 to -78.5 20. In

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t#e CIS countries t#e avera0e was -)8.4 20 up ro! -)).4 20 in -*)). /er capita

steel consu!ption in -*)- was -8).) 20 in t#e NA<1A re0ion up ro! -43.7 20 in

t#e previous year w#ile it was --$.$ 20 in t#e iddle East up ro! --).$ 20 in

-*)).

1op )* countries wit# t#e #i0#est apparent steel use per capita in -*)- are6

Apparent steel use per capita 'In +g)

Countries "#$" "#$$

Fatar )-75.5 $**.4South Korea ))5$.- )-)3.$

United Arab Emirates )*8$.4 $54.3

1aiwan $-3.7 $33.5

Sin0apore $*3.7 $44.5

Lebanon 7)3.7 ;5;.$

Czech Republic ;38.; ;;3.)

Austria 5;7 53;.;

?apan 544.- 55*.-

C#ina 5*8 4$5.7

Source6 Crisil researc#

Co!in0 to co!panies ollowin0 are t#e top ten steel producin0 worldsteel

!e!"er co!panies in -*)-6

Steel: Largest companies in the world(million tonnes of crude steelproduction)

2008 2009 2010 2011 2012

Arcelor Mittal 103.3 .! "#.$ ".$ "3.%

&ippon Steel1 3%." $%.! 3!.0 33.' '."

(aosteel 3!.' 31.3 3.0 '3.3 '$.

)*SC* 3'. 31.1 3!.' 3".1 3"."

+,E 33.# $!.# 31.1 $"." 30.'

-uhan$ $. 13. 1%.% 3. 3%.'

ata Steel /incl Corus3

$'.' $0.! $3.$ $3.# $3.0

Shaan 2roup $3.3 $0.! $3.$ 31." 3$.3

US Steel $3.$ 1!.$ $$.3 $$.0 $1.'

2erdau 1".% 1'.$ 1#. $0.! 1".#

Source: WSA

1#e t#ree %&ICS nation i.e. C#ina %ra+il and India #as "een studied as part o

t#is report. 1#e next part o t#is report will study t#e "asic steel industry

statistics o t#ese nations and will analyse t#e sa!e.

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C.ina demand0supply balance

'In Million Tonne) "##%

"##1

"##2

"##3

"##4

"##5

"##6

"#$#

"#$$

"#$"

/roduction --- -73 35; 4-) 4$* 5)- 577 ;38 7*- 7)7Consu!ption -5$ -87 3;- 3$3 43; 4;; 574 ;)- ;;8 ;88

Oversupply B37 B)4 B; -8 54 4; 3 -; 34 -$

Overcapacity re!ains a concern wit# excess steel production over t#e lastdecade at 3): o apparent consu!ption. Accordin0 to worldsteel associationsteel de!and in C#ina increased "y ;: in -*)3 "ecause o a lot o newinrastructure proects approved in t#e second #al o -*)- "ut still overcapacityre!ains a pro"le! wit# C#inese steel Industry.

1#e apparent steel usa0e in C#ina #as increased ro! -58 !illion tonne in-**3 to ;87 !illion tonne in t#e year -*)-. In t#e sa!e period t#e per capita

use o steel #as risen ro! )$$.$ 20 in -**3 to 5*8 20 in -*)3. 1#e total steeluse o steel "y C#ina rose ro! --8 !illion tonnes in -**3 to 583 !illion tonnes.

*

)**

-**

3**

4**

5**

;**

7**

8**

)8*

-3*

-8*

33*

38*

43*

48*

53*

Steel (sage in C.ina

Apparent Steel @se 1rue Steel @se /er Capita use

In Million Tonnes In +ilograms

Source6 SA

1#e )-t# <ive year plan also ocuses on t#e adoption o new !oreeKcient steel!a2in0 tec#nolo0ies to #elp reduce environ!ental pollution andincrease t#e sectors overall productivity. C#ina currently #as around -7** !ills.ost o t#ese are very s!all !ills wit# capacities "elow ) !illion tonnes perannu! producin0 co!!odityB0rade steel wit# o"solete tec#nolo0y.

7oreignsteelma8e

r

Country C.ineseartner

Investment

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NipponSteel

?apan %aosteel 9alvani+ed steel

N

%e2aertSA

%el0iu! inyu Iron

and steel

5*: sta2e advanced

coatin0

/recisionCastparts

@S an0+#ouC#en0deSteel 1u"e

4$: sta2e lar0eBdia!eterinterconnect pipe or coalBDred power plants

Arcelorittal

(uxe!"our0

Hunan alinIron and Steel9roup

)8.$$: sta2e steeltec#nolo0y procure!entand !ar2etin0

Source6 !er0er !ar2et %aosteel co!pany we"site

,urin0 t#e ))t# <ive ear /lan C#ina did not !a2e si0niDcant pro0ress inreducin0 t#e use o o"solete tec#nolo0y #owever t#e countrys steel sector #as

increased its adoption o new tec#nolo0ies to i!prove t#e eKciency o its newplants. (ar0e C#inese players suc# as %aosteel and ot#ers #ave entered incolla"oration wit# 0lo"al steel!a2ers suc# as Arcelorittal and Nippon Steela!on0 ot#ers to adopt t#e latest tec#nolo0ies and 0ain current tec#nical 2nowB#ow. <or exa!ple C#inese steel!a2ers are loo2in0 to adopt new tec#nolo0iessuc# as Corex <inex and I1!23 to reduce t#e dependency on !etallur0ical coalor uture proects.In addition a nu!"er o C#inese steel!a2ers now #ave t#e tec#nolo0y toco!pete wit# ?apanese !anuacturers in relation to t#e production o #i0#BLuality steel products.

9:ports and Imports by C.inaExports ro! C#ina will continue to #ave an i!pact on 0lo"al producers.

Alt#ou0# C#ina is t#e worlds lar0est exporter o steel its indirect steel exportsaccounted or only )*.): o t#e countrys total annual steel production in-*)).Exports o steel ro! C#ina to ot#er steelBproducin0 countries suc# as%ra+il and t#e @S i!pose a ceilin0 on do!estic prices. 1#e ePect on do!esticprices in ot#er steelBproducin0 countries will depend #owever on t#e types o steel "ein0 exported ro! C#ina.

C#ina #as "een exportin0 steel to al!ost every re0ion in t#e 0lo"e AsiaArica A!ericas Europe and iddle East. 1#e countrys 0rowt# !odel #as "eento invest in inrastructure to create de!and and o"s. #en C#inese do!esticde!and is low do!estic steel !ills exports to ot#er !ar2ets. Steel!a2ers in t#e

i!portin0 re0ions #ave "een at t#e receivin0 end o t#is trend as t#ey are otenuna"le to co!pete wit# 0overn!entBsu"sidi+ed c#eap C#inese steel.

Increased exports ro! C#inese co!panies will increase co!petition or0lo"al steel!a2ers or export !ar2ets. Europe and t#e iddle East are ani!portant steel export !ar2et or steel!a2ers ro! t#e Co!!onwealt# o Independent States =CIS> as well as C#ina. Asian countries ot#er t#an C#inaaccount or al!ost twoBt#irds o all ?apanese steel exports. 1#is re0ion is also t#elar0est C#inese export !ar2et. Steel!a2ers ro! t#ese re0ions would ace !uc#co!petition ro! C#inese steel!a2ers as t#e latter Dnd do!estic de!andsta0natin0 and loo2 or export !ar2ets.A urt#er decline in C#inas do!estic steel de!and will !a2e t#e export trade!ore pronounced.

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-**- -**3 -**4 -**5 -**; -**7 -**8 -**$ -*)* -*))

*

)*

-*

3*

4*

5*

;*

7*

8*

*

)*

-*

3*

4*

5*

;*

7*

Indirect 9:ports 0 Imports by C.ina ' In million Tonne)

Indirect I!ports o. SteelIndirect Exports o. Steel

Indirect Net Exports o. Steel

Source6 SA

;RA<I=%ra+il is worlds $t# lar0est producer o steel and (atin A!ericas lar0est

producer o steel. Steel #as "een a unda!ental co!ponent o t#e nationaldevelop!ent "ecause o its production capacity creation o o"s and orei0n

exc#an0e reserves and 0eneration o invest!ent t#e %ra+ilian steel industry

#ad to deal wit# stron0 diKculties in -*)- created "y t#e world Dnancial crisis.

1#e excess production capacity superior to 5** !illion tons ne0atively i!pacted

t#e econo!ic peror!ance o t#e sector.

1#e %ra+ilian production o crude steel in -*)3 =till Nove!"er> totalled

3).5 !illion tons and 34.5 !illion tons in -*)- w#ic# was down "y -: co!pared

to t#e previous year. %ecause o t#e international econo!y downturn and its

ne0ative i!pacts "ot# exports and do!estic de!and peror!ed "elow

expectations and t#us t#e %ra+ilian !ills operated on a low level o production

capacity utili+ation =7).3:>. %eore t#e crisis #it t#is index was a"ove 85:. An

uni!pressive 0rowt# in do!estic sales was recorded in -*)- w#ic# totalled -).;

!illion tons an increase o only *.8: co!pared to -*)). 1#e sa!e applied to

apparent do!estic consu!ption w#ic# reac#ed -5.- !illion tons an increase o

only *.;: in co!parison to -*)).

/a0e ))




?an <e" ar Apr ay ?un ?ul Au0 Sep Oct Nov

-.3

-.4

-.5

-.;

-.7

-.8

-.$

3

3.)

)-3

)-;

)-$

)3-

)35

)38

;ra>il/s Steel roduction in "#$%

%ra+ilMs /roduction orldMs production

Source6 SA

%ra+ilian crude steel production in Drst )) !ont#s o current year

a!ounted to 3).5- !illion tons. %ra+ilian steel !a2er produced -.7) !illion ton

o crude steel in t#e !ont# o Nove!"er -*)3. <ollowin0 ta"le 0ives t#e de!and

supply "alance o steel in %ra+il.

;ra>il demand 0 supply balance

'In Million Tonne) "#

#%

"#

#1

"#

#2

"#

#3

"#

#4

"#

#5

"#

#6

"#

$#

"#

$$

"#

$"/roduction 3) 33 3- 3) 34 34 -7 33 35 35

Consu!ption )8 -* )$ -) -5 -7 -) -$ -8 -8

Oversupply )3 )3 )3 )* $ 7 ; 4 7 7

1#e de!and o steel is not increasin0 proportionately in %ra+il despite ot#e act t#at 0overn!ent announced incentive o raisin0 t#e i!port tariP in-*)-. However t#e !easures suc# as a drop in electricity prices t#einrastructuralQlo0istics pac2a0e announced "y t#e 0overn!ent and events suc#as t#e orld Cup and t#e -*); Oly!pics 9a!es will support t#e recovery osteel de!and in %ra+il. 1#us t#e pro"le! o oversupply can reduce in uture.

/a0e )-




)*)-

)4);

)8-*---4-;

-83*

4*.*

;*.*

8*.*

)**.*

)-*.*

)4*.*

);*.*

Steel (sage in ;ra>il

Apparent Steel @se 1rue Steel @se

/er Capita use

In Million Tonnes In +ilograms

Source6

SA

9:ports and imports by ;ra>ilIn -*)- %ra+ilian exports o steel products reac#ed $.8 !illion tons and

revenues o 7.* "illion dollars w#ic# represented a decrease o $.;: in volu!e

and );.7: in value in co!parison to -*)). 1#ese results are a conseLuence o t#e oversupply o steel products in t#e international !ar2et and o predatoryand antico!petitive practices adopted "y so!e countries. I!ports totalled 3.8!illion tons t#e sa!e a!ount ac#ieved in -*)) !aintainin0 t#e #i0# s#are o i!ports in total steel consu!ption in t#e country.

-**- -**3 -**4 -**5 -**; -**7 -**8 -**$ -*)* -*))

*

)

-

3

4

5

;

B3

B-

B)

*

)

-

3

Indirect 9:ports 0 Imports by ;ra>il ' In million Tonne)

Indirect I!ports o. Steel

Indirect Exports o. Steel

Indirect Net Exports o. Steel

Source6 SA

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I-?IAIndias steel industry #as 0rown a"out )*: per year ro! -7 !illion

tonnes in -**) to 7- !illion tonnes in -*)3 =till Nove!"er>. Accordin0 to t#e

/lannin0 Co!!ission o India t#e countrys steel production is expected to 0row"y around ;* !illion tonnes durin0 t#e )-t# <ive ear /lan =-*)))- to -*);)7>.

1#e 0rowt# in Indias industry is a result o do!estic steel consu!ptionw#ic# #as "een driven pri!arily "y inrastructure related invest!ents andconsu!er dura"les. 1#e )-t# </ proects an invest!ent o @SR)t ininrastructure alone w#ic# will accelerate steel consu!ption. As an esti!atet#is increase in inrastructure spends !ay itsel lead to additional de!and o approxi!ately 4* !illion tonnes per annu! durin0 -*)-)3 to -*);)7.

-*)-B)3 -*)3B)4 -*)4B)5 -*)5B); -*);B)7

*

-**

4**

;**

8**

)***

)-**

)4**

);**

ro@ections for investment in infrastructure for t.e $"t. plan 'Rs /### crore at "#$$0$" prices)

1#e risin0 !iddleBclass population alon0 wit# increased ur"ani+ation willincrease steel intensity in t#e econo!y. Accordin0 to t#e report o t#e wor2in00roup on steel industry or t#e )-t# </ t#e Indian ur"an population is expectedto increase to ;** !illion "y -*3* ro! t#e current level o 4** !illion. 1#erisin0 !iddleBclass ur"an population "oosts de!and or auto!o"iles w#ite0oods and ot#er consu!er dura"les leadin0 to #i0#er per capita steel

consu!ption. Indian steel consu!ption 0rowt# #as an elasticity o a"out ).) to0rowt# in 9,/.4; In ot#er words i t#e Indian econo!y 0rows at 7: per yearsteel de!and is li2ely to 0row "y 7.7: durin0 t#e sa!e ti!e ro! t#e current ;8!illion tonnes to around )3- !illion tonnes "y -*-*.

Currently per capita rural consu!ption in India stands at around )320. 1#is is si0niDcantly lower t#an ur"an per capita consu!ption. /roects li2e %#aratNir!an and &aiv 9and#i Awaas oana #ave led to increased de!and orconstruction steel li2e t#er!oB!ec#anically treated =11> "ars and 0alvani+edplain and corru0ated =9/Q9C> s#eets "ut t#ere re!ains a si0niDcant opportunityto 0row rural steel de!and "y widenin0 t#e distri"ution networ2 and "yprovidin0 custo!i+ed solutions caterin0 to t#e needs o 7*: o t#e population.

1#e ))t# </ =<*7)-> re0istered a road invest!ent wort# @SR;;" w#ic# is a

rise o !ore t#an )**: in co!parison to t#e )*t# </ =<*-*7>. 9oin0 urt#eran invest!ent wort# @SR)3-" #as "een planned or t#e )-t# </. 1#e

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0overn!ent #as launc#ed !any road invest!ent pro0ra!s na!ely t#e NationalHi0#ways ,evelop!ent /roect =NH,/> and /rad#an antri 9ra! Sada2 oana=/9S> to increase t#e connectivity o roads to ports and plant sites.

Indian &ailways #as an a!"itious invest!ent plan to invest @SR3-8"t#rou0# -*-* under its ision -*-* pro0ra!. ision -*-* plans !assivecapacity au0!entation to !eet traKc de!and and i!prove saety andoperational eKciency. 1#e or0ani+ations plan is to invest around @SR4-.;" outo t#e total .allocated "ud0et in layin0 down new lines. <rei0#t car procure!entis also expected to increase to 75*** per annu! ro! t#e present level o )5*** per annu!. any o t#e invest!ents will #ave #i0# steel intensity. Indian&ailways a"ility to !eet ision -*-*s tar0et #olds t#e 2ey to steel de!anddurin0 t#e current decade

1#e increase in volu!e "y t#e auto!o"ile !aors will drive t#e de!and orspeciali+ed steel suc# as ultra Dne 0rain steel and dual p#ase steel. 1#e de!andor cold rolled 0rain oriented steel =C&9O> w#ic# is currently i!ported oPers a

valua"le opportunity. As India is currently s#ort o electricity t#ere are plans toexponentially increase invest!ent in power proects w#ic# will also drive steelde!and.

1#e 0overn!ents plan to reBener0i+e !anuacturin0 will lead toaccelerated de!and ro! t#e capital 0oods sector and proects. 1#e currents#are o capital 0oods in t#e overall steel consu!ption is su"stantially lower t#anC#inas even in ratio ter!s.

?an <e" ar Apr ay ?un ?ul Au0 Sep Oct Nov

5.8

;

;.-

;.4

;.;

;.8

7

))8

)-3

)-8

)33

)38

India/s Steel roduction in "#$%

IndiaMs /roduction orldMs production

Source6 SA

1#e a"ove 0rap# s#ows t#e production o steel "y India in t#e year -*)3.India is t#e 4t# lar0est producer o steel wit# its production reac#in0 7- !illiontonnes in -*)3 =1ill Nove!"er>. 1#e steel production over last one decade "yIndia #as 0rown at CA9& o )*.7$: w#ic# is 0reater t#an worlds CA9& o 5.-$:"ut less t#an t#e C#inas 0rowt# rate o )3.$):.

Indian de!and supply "alance is 0iven in "elow ta"le. Over years t#ede!and and supply o steel #as re!ained eLual. %ot# de!and and supply are

increasin0 at a "ris2 rate o )*: or India.

/a0e )5




India demand 0 supply balance

'In Million Tonne) "##%

"##1

"##2

"##3

"##4

"##5

"##6

"#$#

"#$$

"#$"

/roduction 3- 33 4; 4$ 53 58 ;4 ;$ 73 78Consu!ption 34 3$ 43 4$ 55 5; ;4 ;$ 7; 77

Oversupply B- B7 3 * B- - B) * B- )

/er capita use o steel in India is very low and is around ;* 20 in t#e year-*)- w#ile t#e sa!e or C#ina and %ra+il is 5*8 20 and )4- 20. /er capita use#as increased ro! -- 20 in -**3 to ;3 20 in -*)- and apparent use o steel #asincreased ro! 35 !illion tons in -**3 and ;4 !illion tons in t#e year -*)-. 1ruesteel use in India increased ro! 3* !illion tons to 58 !illion tons in t#e year-*)-.

-*.**

3*.**

4*.**

5*.**

;*.**

7*.**

8*.**

3*.*

35.*

4*.*

45.*

5*.*

55.*

;*.*

;5.*

Steel (sage in India

Apparent Steel @se 1rue Steel @se

/er Capita use

In Million tonnes In +ilograms

Source6SA

9:ports and imports by IndiaIndia #as "eco!e a net exporter o steel ater -*)) and it continued t#e

trend in t#e year -*)- and -*)3. ea2 exc#an0e rate su"dued do!esticde!and and #i0#er availa"ility o steel post capacity additions were so!e o t#e2ey reasons or t#is.

/a0e );




-**- -**3 -**4 -**5 -**; -**7 -**8 -**$ -*)* -*))

*.***

).***

-.***

3.***

4.***

5.***

B).**

B*.5*

*.**

*.5*

).**

).5*

Indirect 9:ports 0 Imports by India ' In million Tonne)

Indirect I!ports o Steel

Indirect Exports o Steel

Indirect Net Exports o Steel

Source6 SA

ReferencesCrisil Research. =n.d.>. &etrieved ?an )* -*)4 ro!

#ttps6QQwww.crisilresearc#.co!Q

ordsteel. =-*)3>. Steel Statistical Yearbook. %russels6 orldsteel Association.

orldsteel. =-*)3>. Brazilian indirect trade in steel in 1970-2011. %russels6 orld

steel association.

oun0 E. T. =-*)3>. Global Steel 2013. Ernst T youn0.

/a0e )7

Documents

Steel Industry Report