Insight
Indian steel market: Strong fundamentals outweigh short term pressure
Report summary
The Bulks team delivered the attached presentation entitled “Steel: Strong fundamentals outweigh short term pressure” as part of Wood Mackenzie’s “2020 India cross commodity virtual series” on July 8, 2020. Key takeaways: • Indian crude steel production to fall below 100 Mt in 2020. • Post iron ore mine lease auctions, gradual shift in Indian iron ore production to captive miners. • BOF share of Indian crude steel production to increase significantly by 2040 to support steel demand. • India turning into a large net importer of iron ore by 2040. • Share of PCI in Indian metallurgical coal imports to increase in the longer term.
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