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ICRA predicts 9-10% growth in India's domestic steel consumption by FY2025, driven by increased capacity and competitive imports.
ICRA forecasts a 9-10% growth in India's domestic steel consumption for FY2025, following a 15% increase in Q1.
This growth is bolstered by competitively priced imports and an unprecedented capacity addition of 15.6 million tonnes per annum, with expected capacity utilization reaching 88%.
The steel sector, which saw a 13.6% rise in consumption in FY'24, is benefiting from shifting trade flows due to weaker demand in regions like China.
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ICRA predice un crecimiento del 9-10% en el consumo interno de acero de la India para el año fiscal 2020, impulsado por el aumento de la capacidad y las importaciones competitivas.