Business
Worldsteel sees India steel demand up 8%
The Hindu BusinessLine··4d ago
World Steel Association projects India steel demand up 7.9 percent to 172.4 million tonnes in 2026 and 8 percent to 186.2 million tonnes in 2027. It called India the fastest-growing major market. Global demand is pegged at 1,722 million tonnes in 2026 and 1,752 million tonnes in 2027. China demand may contract 2 percent in 2026.
Prism
What It Means For You
- Infrastructure construction remains the main demand driver in the India outlook.
- Private real estate, manufacturing and renewable energy projects add support, worldsteel said.
- Automotive demand is aided by domestic sales, exports and policy support.
What's Happening
- Demand outside China is expected to grow 1.5 percent in 2026 and 4 percent in 2027.
- China's 2026 contraction is tied to weak property and infrastructure investment.
- The October Short Range Outlook lowered earlier global growth assumptions.
What Drives The India Forecast
- BusinessLine reported the outlook after worldsteel's Monday release.
- Global demand is described as virtually flat in 2026 before a 1.7 percent rise in 2027.
- India's 2027 total of 186.2 million tonnes would follow 172.4 million tonnes in 2026.
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