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NSP to help steel demand stay steady at 6% for 5 years - CRISIL-2017 China (Shanghai) Int’l Metal &Metallurgy Exhibition
5/10/2017  steel expo-metal &metallurgy expo
    Press Trust Of India quoted a report by Crisil as saying helped by government-led initiatives, including National Steel Policy, domestic steel demand is expected to grow by 6 to 6.5% in the next five years, but the target reaching 300 tonne steel capacity by 2030 under NSP seems unlikely. Noting that the government envisages domestic steel consumption to grow 7 per cent through 2030 under the NSP,the rating agency said the consumption of the alloy has grown at a steady pace of 6 per cent, during the last decade (2006-07 to 2016-17).

The report said that “Over the next five years, steel demand is expected to register 6-6.5% growth driven by various government led initiatives in affordable housing and infrastructure sector, coupled with robust growth in automotive and capital goods segments.”

It added that “A similar trajectory of growth in expected to continue even in long run, subject to continuation of government’s initiatives. Also, NSP is expected to encourage in house production of flat and alloy steel products, reducing their share in overall imports.”

As per the rating agency estimates 24-26 MT of steel capacities could be added over the next five years, leading to aggregate steel capacity to rise to 140-145 MT by 2021-22. “Beyond this, the trajectory of demand growth, continued government support, and pricing environment in backdrop of global over-capacity led by China would be key determinants of pace of capacity addition,” the report said. -2017 China (Shanghai) Int’l Metal &Metallurgy Exhibition
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