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Demand - Supply Scenario 

Production In FY01, India produced 26.5mt of crude steel and 29.5mt of 

finished steel to retain its position as the tenth largest producer of steel in 

the world. The growth has been mainly due to the addition of capacity in 

the private sector. 

Table 1: Production trends 

('000 t) Pig iron Sponge Crude Finished 

iron steel steel 

1996-97 3346 5009 24415 22743 

1997-98 3416 5345 23480 23576 

1998-99 3060 5180 24296 23887 

1999-00 3193 5340 26924 27131 

2000-01 3398 5481 26500 29529 

2001-02 * 1351 2915 N.A 19670 

* Apr- Sep 01 for secondary sector (except finished steel) 

Source: JPC/ India Infoline 

Table 2: Demand - Supply scenario 

('000 t) 1996-97 1997-98 1998-99 1999-00 2000-01 

Production 22743 23576 23887 27131 29529 

Imports 1565 1588 1132 1600 1433 

Exports 1687 1882 1787 2670 2911 

Apparent consumption 22621 23282 23232 26061 28051 

Surplus/ (Deficit) 

% chg in production 2.9% -0.2% 12.2% 7.6% 

% chg in consumption 3.7% 1.3% 13.6% 8.8% 

Source: India Infoline 

Consumption 

Steel consumption has been steadily growing in the country. The main 

areas of consumption are engineering goods and applications, 

construction, automobiles and consumer durables. 

Table 2: Product-wise finished steel consumption 

('000 t) 1996-97 1997-98 1998-99 1999-00 2000-01 %CAGR 

Pig iron 2910 2637 2782 2910 3177 2.2% 

Bars & rods 7619 7588 7756 8407 9268 5.0% 

Plates 1622 1572 1602 1392 1833 3.1% 

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8/812005 
Steel 

HRC 4865 5109 5070 6446 7116 10.0% 

CRC 3071 3410 3319 4057 4196 8.1% 

GP/GC 951 1017 1045 1186 1107 3.9% 

Source: JPC/ India Infoline 

Price trends 

The price trend in the Indian markets has been a function of: 

1& Domestic demand-supply scenario 

1& International prices 

With domestic demand being weak and international prices touching 

twenty-year lows, the price of steel products in the country has also been 

weak. Globally it is expected that prices will likely rally due to: 

CII Low base of twenty year lows and the sharp decline during 2001 

1& Economic recovery in USA and Europe on the back of economic 

stimulus package and easy liquidity 

1& Initial talks between steel producing nations to cut back on steel 

production capacity 

Any rally in prices will likely result in marginal hardening of prices in India 

as well. 

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