Industry Insight - Metal

India’s metal industry is expanding as a result of increased automotive and infrastructure development. Compared to May 2020, when 5.8 million tonnes of crude steel were produced, 9.2 million tonnes of crude steel were produced in May 2021, a 46.9% YoY increase. By FY22, it is anticipated that India will produce 120 million tonnes (MT) more steel, an increase of 18%.

In terms of the cost of producing and converting alumina and steel, India has a slight advantage. With a production of 99.6 MT, India is the second-largest producer of crude steel worldwide as of 2020. In FY20, the output of finished steel was 101.03 MT, while the production of crude steel was 108.5 MT. India has a total of 914 steel factories that produced crude steel in FY20. In FY21, India produced 102.49 million tonnes of crude steel. SAIL produced 1.55 MT of hot metal, 1.44 MT of crude steel, and 1.46 MT of saleable steel in September 2021, respectively.