Steelmaking, Shaping, Treating and Processing, Steel and Steel Products (Fasteners, Seamless Tubes, Casting, Rolling of Flat Products & others)

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Steelmaking, Shaping, Treating and Processing, Steel and Steel Products (Fasteners, Seamless Tubes, Casting, Rolling of Flat Products & others), Iron and Steel making by-Products, Steel making and Refining, Manufacturing of Steel, Steel Production

Steel is one of the most important and widely used products in the world. Currently, the steel industry is undergoing a process of change. As a result of ongoing technical and economic developments, the production and use of electric arc furnace steel is, beneath the steel production in a blast furnace, becoming increasingly important, continuously gaining share of world-wide steel production over the past 30 years.

Steel is a term given to alloys containing a high proportion of iron with some carbon. Other alloying elements may also be present in varying proportions. The properties of steel are highly dependent on the proportions of alloying elements, so that their levels are closely controlled during its manufacture. The properties of steel also depend on the heat treatment of the metal.

The comparative advantage of cheap and high quality iron ore and manganese, has been somewhat set off by the limited accessibility of the steel industry to the supply of coking coal. The adoption of the sponge iron route by the private sector integrated plants helped in circumventing the constraint, and at the same time, ushered in a technological revolution in the industry. As a result, India has come to enjoy a cost advantage compared to most countries.

Not impressed by the Tenth Plan target of 38 mn tonnes (which  was lower than 39 mn tonnes  of the Ninth  Plan), the Government of India had announced a new National Steel Policy in 2005. The policy aimed at achieving a production level of 110 mn tonnes in 2019-20, of which the domestic consumption was aimed to rise to 90 mn tonnes and exports to 26 mn tonnes. The industry was expected to register a CAGR of 7.3%, slightly higher than the 7% annual growth registered during the 15-year period ending 2004-05. According to a study carried out by the International Iron and Steel Institute, the demand in India is projected to a level of 180 mn tonnes by 2020.

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