2025印度钢铁行业研究报告

Executive Summary3Advantage India4Market Overview6Recent Trends and Strategies16Growth Drivers22Opportunities30Key Industry Contacts33Appendix35 Production Statistics& Trends Strong growth opportunities •TheWorldSteelAssociation’s‘WorldSteelinFigures2025’profiles India as the world’ssecond-largestcrudesteelproducer.•Demand for steel from different sectors willdrivethisindustry.•ConsumptionofsteelbyIndia’sinfrastructuresegmentis expected to increase to 11%byFY26.•Steel demand from the automotive sector isexpectedto increase due to rise in thedemandforautomobiles.•ThenewVehicleScrappagepolicywillhelpinreducingsteel prices as the policy enablesrecyclingofmaterialsusedinoldvehicles.•Onthe healthcarefront,keysteelproducersarenowexceedingtheircapacitiestoproduceoxygencylindersforCOVIDpatients.•The Smart Cities’Affordable Housing andindustrialcorridors are a few governmentintitivatestoboostthesteelindustry•As of July 30,2025,India’s green steeldemandisforecastedtoclimbfromnegligiblelevelstoday to 4.49 million tonnes(MT)byFY30,driven by the construction sector,infrastructureandautomobileswithprojectionsrisingto24MTbyFY35,73MTbyFY40andpeakingat179MTbyFY50. •In FY26(April-October 2025),crudesteelproductioninIndiastoodat96.08MT.•In FY26(April-October 2025),finishedsteelproductionstoodat91.98MT.•SteelAuthorityofIndiaLimited(SAIL),achievedthebest-everannualproductionduringFY23.Thecompanyrecorded18.28 MT of crude steelproductionwithagrowthof5.3%overthepreviousbest.•InFY25,SAIL’scrudesteelproductionstoodat 19.17 MT and sales volumestoodat17.89MT.•Moreover,steel production capacityincreasedto200.33MT in FY25,andthefigureis anticipatedtoriseto300MTbyFY30. FDI in steel industry •Policy allowing 100%FDI(via theautomaticroute)inthesteelindustryhasboostedinvestments.•Between April 2000-June 2025,Indianmetallurgicalindustries attracted FDIinflowsofRs.1,60,000crore(US$18.67billion). Advantage India 4.IncreasingInvestment 1. Robust Demand ►Toachievesteelcapacitybuild-upof300MTperannumby2030,IndiawouldneedtoinvestUS$156.08billionby2030-31. ►InFY26(April-October2025),finishedsteel production stood at91.98MT.►India’s domestic steel demand isestimatedtogrowby9-10%in2025asperICRA. ►OnJuly31,2025,SteelAuthorityofIndiaLimited(SAIL)hasapprovedaRs.7,500crore(US$875 million)capex for FY26,markinga25%increaseoverthepreviousyear,to expand capacity across itsintegratedplants,aimingtoscaleupto35MTperannumby2030. ►Theindustryiswitnessingconsolidationofplayers,which has led to investment byentitiesfrom other sectors.The ongoingconsolidationalsopresentsanopportunitytoglobalplayerstoentertheIndianmarket. 2. Competitive Advantage ►InFY26(April-October2025),crudesteelproduction in India stood at96.08MT. ►Easyavailabilityoflow-costmanpowerandpresenceofabundantiron ore reserves makeIndiacompetitive in the global setup. 3. Policy Support ►In February 2024,the government hasimplementedvariousmeasurestopromoteself-relianceinthesteelindustry. ►Exportdutyof30%hasbeenleviedonironore*(lumps and fines)to ensuresupplytothedomesticsteelindustry.►Under the Union Budget 2023-24,thegovernmentallocated Rs.70.15 crore(US$8.6million)totheMinistryofSteel. ►As of April 2025,India has hugeironorereservesandcanproduce700MT per year and has thepotentialto be the second largestproducerofironoreglobally. Market Overview Evolution of the Indian steel sector Structure of the steel sector Steel production capacity has expanded rapidly ▪Forthefirsttimeever,IndiasurpassedChinaasthetopdeveloperofcoal-basedsteelcapacityinJuly2023,accordingtothelatestreportfromGlobalEnergyMonitor(GEM). ▪India’ssteelproductioncapacityincreasedto200.33MTinFY25,andthefigureisanticipatedtoriseto300MTbyFY30. ▪Indiawillcommissionnewsteelmakingfacilitieswithacapacityofabout40MTperyearbyFY26. Steel production in India has been growing at a fast pace ▪In FY26 (April-October 2025), crude steel production in India stood at 96.08 MT. ▪In FY26 (April-October 2025), finished steel production stood at 91.98 MT. ▪InFY25theproductionofcrudesteelstoodat151.14MTandfinishedsteelstoodat145.30MT. ▪ShareofSecondarysteelplantsincludingMSMEsincrudesteelcapacityinFY25stoodat47%. ▪IntheUnionBudget2023-24,aninvestmentofRs.75,000crore(US$9.15billion)(includingRs.15,000crore(US$1.83billion)fromprivatesources)hasbeenallocatedfor100criticaltransportinfrastructureprojectsforlastandfirstmileconnectivityforvarioussectorssuchasports,coal,andsteel. Demand has outpaced supply over the last five years ▪InFY26(April-October2025),theconsumptionoffinishedsteelstoodat92.50MT. ▪InFY25,theconsumptionoffinishedsteelstoodat150.23MT. ▪Theper-capitaconsumptionofsteelstoodat100kgsinFY26(April-August2025)andtheNationalSteelPolicyaimstoincreaseitto160kgsbyFY31. ▪Itisexpectedthatconsumptionpercapitawouldincrease,supportedbyrapidgrowthintheindustrialsectorandrisinginfraexpenditureprojectsinrailways,roadsandhighways,etc. ▪Thegovernmenthasafixedobjectiveofincreasingruralconsumptionofsteelfromthecurrent19.6kg/percapi