Steel production projected in India
According to the analytical department of the Financial Express agency, the steel sector of the rapidly developing Indian economy is showing quite noticeable production growth. Taking into account the pace of work and the available promising orders in the current financial year (end date March 2019), it is expected (planned):
- The total amount of smelted metal is 108-110 million tons, an increase of 3.8% (currently 97.15 million tons).
- Steel imports together with semi-finished products - 8.6-8.8 million tons, an increase of 2% (currently 7.2 million tons).
At the same time, there is a decline in steel exports compared to the same period of the last financial year (it is associated with a variety of external and internal factors), which indicates high demand for smelted steel directly from Indian consumers (producers).
This indicator once again confirms the opinion of leading analysts about the prospects of the Indian economy and the continuation of its steady growth in the near future.