India’s Steel Consumption Potential Is Huge
According to World Steel Statistics 2019 released by the World Steel Association, global crude steel production continued to make a new historical record up to1.808 billion tons in 2018, an increase of 4.5% over 2017, the fourth consecutive year of growth since 2015. Glory Steel could offer 50×30 flat bar crane rail.
In 2018, the global apparent consumption of steel reached 1.712 billion tons. In terms of countries and regions, China accounted for 48.8% of the total, and the apparent consumption of steel in India and Japan accounted for 5.6% and 3.8% respectively, the EU accounted for 9.9%, and the North American Free Trade Zone accounted for 8.3%. The proportion of joints reached 3.3%. Glory Steel is specialized in production of 50×30 flat bar crane rail.
In 2018, the global per capita consumption reached 224.5 kg, and the global per capita crude steel consumption showed an overall upward trend. The per capita consumption in 2012 was 202.9 kg.
In terms of countries, in 2018, South Korea’s per capita steel consumption reached 1047.2 kilograms, the highest level in the world. China’s per capita steel consumption reached 590.1 kilograms, Japan reached 514.1 kilograms, Germany reached 495.5 kilograms, Italy reached 445.0 kilograms, and the United States reached 306.5 kilograms. Russia reached 285.9 kg and France reached 215.9 kg. It is worth pointing out that as the world’s second largest steel producer, India’s per capita steel consumption in 2018 is only 70.9 kg, still far below the world average. This is mainly related to India’s large population base, and it also reflects the huge potential of Indian steel consumption. According to the national steel development plan formulated by the Indian government in 2017, India’s steel production capacity will reach 300 million tons in 2030. The increase in Indian steel consumption is mainly due to the large amount of infrastructure construction demand generated by the urbanization process. The World Steel Association said in its short-term forecast report that the Indian economy has recovered from the double impact of the “cash ban” and “GST” implementation, coupled with investment environment improvement and infrastructure construction double support, Indian steel demand is expected to return to a higher growth rate.
In 2018, the top 10 global steel producers are still China, India, Japan, the United States, South Korea, Russia, Germany, Turkey, Brazil, and Italy. Compared with 2017, the crude steel output rankings of individual countries have changed. India surpassed Japan to become the world’s second largest steel producer, and South Korea surpassed Russia to become the world’s fifth largest steel producer.
From the top 50 steel companies in the world, 28 companies in China, the largest steel producer, were selected, an increase of 2 compared with 2017. Among the top 10 steel companies in the world, there are 6 companies listed in China.
According to World Steel Statistics 2019 released by the World Steel Association, global crude steel production continued to make a new historical record up to1.808 billion tons in 2018, an increase of 4.5% over 2017, the fourth consecutive year of growth since 2015. Glory Steel could offer 50×30 flat bar crane rail.
In 2018, the global apparent consumption of steel reached 1.712 billion tons. In terms of countries and regions, China accounted for 48.8% of the total, and the apparent consumption of steel in India and Japan accounted for 5.6% and 3.8% respectively, the EU accounted for 9.9%, and the North American Free Trade Zone accounted for 8.3%. The proportion of joints reached 3.3%. Glory Steel is specialized in production of 50×30 flat bar crane rail.
In 2018, the global per capita consumption reached 224.5 kg, and the global per capita crude steel consumption showed an overall upward trend. The per capita consumption in 2012 was 202.9 kg.
In terms of countries, in 2018, South Korea’s per capita steel consumption reached 1047.2 kilograms, the highest level in the world. China’s per capita steel consumption reached 590.1 kilograms, Japan reached 514.1 kilograms, Germany reached 495.5 kilograms, Italy reached 445.0 kilograms, and the United States reached 306.5 kilograms. Russia reached 285.9 kg and France reached 215.9 kg. It is worth pointing out that as the world’s second largest steel producer, India’s per capita steel consumption in 2018 is only 70.9 kg, still far below the world average. This is mainly related to India’s large population base, and it also reflects the huge potential of Indian steel consumption. According to the national steel development plan formulated by the Indian government in 2017, India’s steel production capacity will reach 300 million tons in 2030. The increase in Indian steel consumption is mainly due to the large amount of infrastructure construction demand generated by the urbanization process. The World Steel Association said in its short-term forecast report that the Indian economy has recovered from the double impact of the “cash ban” and “GST” implementation, coupled with investment environment improvement and infrastructure construction double support, Indian steel demand is expected to return to a higher growth rate.
In 2018, the top 10 global steel producers are still China, India, Japan, the United States, South Korea, Russia, Germany, Turkey, Brazil, and Italy. Compared with 2017, the crude steel output rankings of individual countries have changed. India surpassed Japan to become the world’s second largest steel producer, and South Korea surpassed Russia to become the world’s fifth largest steel producer.
From the top 50 steel companies in the world, 28 companies in China, the largest steel producer, were selected, an increase of 2 compared with 2017. Among the top 10 steel companies in the world, there are 6 companies listed in China.
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