ENA Sectors 2025-05-30 17:04:40 <p><span style="font-size:14px"><strong>New Delhi, May 30 (KNN)</strong> According to a detailed analysis by Jefferies, India stands out as the only major economy to post consistent steel production growth between 2019 and 2024.</span></p> <p><span style="font-size:14px">While global steel output contracted by 1 percent during this period, India achieved a 33 percent increase in production.</span></p> <p><span style="font-size:14px">The Jefferies report identifies India as a bright spot in the commodities market, noting the country's exceptional performance across multiple material categories. </span></p> <p><span style="font-size:14px">Unlike numerous other nations experiencing stagnation or decline, India has maintained consistent volume growth in carbon steel, stainless steel, coal, and aluminium sectors throughout the assessment period.</span></p> <p><span style="font-size:14px">Carbon and stainless steel consumption have expanded at a compound annual growth rate of 7-8 percent, significantly outpacing India's real GDP growth during the corresponding timeframe. </span></p> <p><span style="font-size:14px">The consumption patterns suggest structural economic transformation, with steel-intensive sectors driving demand beyond traditional economic growth correlations. </span></p> <p><span style="font-size:14px">Jefferies forecasts continued expansion for Indian steel companies, projecting volume growth at a compound annual growth rate of 8-10 percent between fiscal years 2025 and 2027. </span></p> <p><span style="font-size:14px">These projections align with anticipated infrastructure investments and manufacturing sector expansion plans currently under implementation.</span></p> <p><span style="font-size:14px">The domestic steel industry encountered pricing pressures in late 2024 due to increased competition from lower-priced Chinese steel imports. </span></p> <p><span style="font-size:14px">Import volumes rose substantially, creating downward pressure on domestic steel pricing and affecting industry profitability margins.</span></p> <p><span style="font-size:14px">In response to these market conditions, the Indian government implemented a 12 percent safeguard duty on flat steel imports in April 2025, establishing protection measures valid for 200 days. </span></p> <p><span style="font-size:14px">This policy intervention aimed to provide domestic producers with competitive relief while maintaining market stability.</span></p> <p><span style="font-size:14px">The pricing outlook balances multiple factors including domestic demand growth, production capacity expansion, raw material costs, and competitive dynamics with international suppliers. </span></p> <p><span style="font-size:14px">The sector's resilience during global market volatility demonstrates structural advantages including domestic market scale, integrated supply chains, and strategic policy support.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42275 https://knnindia.co.in/news/newsdetails/sectors/indias-steel-production-jumped-33-from-2019-to-2024-jefferies 2025-05-30 17:04:40 knnindia.co.in