The World Steel Association has estimated steel consumption in India to grow at five per cent in 2013. Steel producers may see a spurt in demand in the medium term if the Indian Government implements its US$ 1 trillion infrastructure investment plan. India's steel-making capacity is slated to cross 100 MT in 2013 which will require about 160-170 MT of iron ore.
The steel industry is expected to add 12.8 MT of capacity in the second half of 2012-13, with the major contributors identified as SAIL, RINL, Bhushan Steel and Jindal Steel.
Indian crude steel production is estimated to grow at a compound annual growth rate (CAGR) of around 10 per cent during 2010-2013, whereas the finished steel consumption is estimated to grow at a CAGR of around 12 per cent during FY 2012-14, as per a RNCOS research report.