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Bloomberg
India, set to become the world’s largest steel producer after China, churned out a record amount in the year through March to feed rising local demand, while boosting exports to the highest ever. Output jumped 11 percent to 101.3 million metric tons and the nation was a net exporter for the first time in three years, doubling shipments to 8.2 million tons, according to provisional steel ministry data.
India’s on course to overtake Japan as the second-biggest producer by 2019, according to the Australian government, as mills increase output to meet growing demand for infrastructure, homes and consumer goods.
The nation’s top suppliers — JSW Steel Ltd., Steel Authority of India Ltd. and Tata Steel Ltd. — all chalked up record production last year. The
country’s output will rise from 103 million tons this year to 110 million in 2018, and 118 million by 2019, according to projections from Australia’s Department of Industry, Innovation and Science.