Bulletin – March Quarter 2012 India's Steel Industry Abstract
Indian steel production has grown strongly in recent decades and India is now the world's fourth-largest steel producer. Nevertheless, India's consumption of steel relative to the size of its economy is very low by international standards. As the economy develops further, steel consumption is likely to increase. Indeed, Indian steelmakers have plans to expand capacity substantially in order to meet the anticipated increase in demand. While India has relatively large reserves of iron ore, its steelmakers import most of the coking coal they require. As Australia is a major supplier of coking coal to India, these exports from Australia are likely to expand further.