Indian steel demand is expected to shrink by 7.7% to a multi-year low in 2020

Published: Apr 20, 2020 09:45

Save

According to sources, affected by the epidemic, India's construction, automobile and railway sector projects have slowed, and Indian steel demand is expected to hit a multi-year low in 2020. Indian steel demand is expected to shrink 7.7 per cent to 93.7 million tonnes in 2020, according to the Indian Iron and Steel Association (ISA). Earlier, ISA expected Indian steel demand to grow 5.1 per cent to 106.7 million tonnes in 2020.

SMM4, March 20: it is reported that affected by the epidemic, India's construction industry, automobile industry and railway sector projects have slowed, and Indian steel demand is expected to hit a new low in several years in 2020.

Indian steel demand is expected to shrink 7.7 per cent to 93.7 million tonnes in 2020, according to the Indian Iron and Steel Association (ISA). Earlier, ISA expected Indian steel demand to grow 5.1 per cent to 106.7 million tonnes in 2020.

Indian Prime Minister Narendra Modi has extended the blockade until May 3, while allowing states to carry out appropriate economic activities in remote areas.

Arnab Kumar Hazra, assistant secretary-general of the Indian Iron and Steel Association, said Indian steel demand is expected to hit a multi-year low in 2020, and the blockade will reduce Indian steel demand by 13 million tons.

The outbreak has put pressure on Indian carmakers, and some carmakers are seeking tax breaks and scrapping stimulus policies for older cars.

SMM "current combination" training class

Registration contact: Lu Qingping, SMM Iron and Steel Division

Tel: 021-51595781 / 187-1777-4590

Steel India supply and demand epidemic situation

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Jun 30, 2026 14:20

Hunan Launches Second Round of Environmental Inspections, Affecting Lead-Zinc Mines

Hunan Province has launched the second round of its provincial ecological and environmental protection inspection "look-back" campaign. The first batch of seven inspection teams has been fully deployed since June 13, 2026, covering the cities of Changsha, Zhuzhou, Yueyang, Shaoyang, Hengyang, Huaihua, and Zhangjiajie. According to market sources, some lead-zinc mines have suspended production as a result of the inspections. SMM will continue to monitor and assess the potential impact on zinc concentrate supply.

Jun 30, 2026 14:20

Jun 23, 2026 16:31

Australia Terminates Anti-Dumping Probe on South Korean, Vietnamese Galvanised Steel Sheets

On June 19, 2026, the Australian Anti-Dumping Commission issued Notice No. 2026/088, terminating the anti-dumping investigation on galvanised sheet [Zinc Coated (Galvanised) Steel] imported from South Korea and Vietnam, following the withdrawal application submitted by the applicant BlueScope Steel Limited. Previously, on May 22, 2026, the Commission issued Notice No. 2026/071, initiating an anti-dumping investigation on galvanised sheet imported from South Korea and Vietnam, in response to an application filed by Australian domestic enterprise BlueScope Steel Limited.

Jun 23, 2026 16:31

Jun 5, 2026 11:08

Supply Gap Persists in Vietnamese Market, Spot Lead Traded at High Premiums

[Ex-China Lead Market Dynamics] It was learned that the recent environmental protection inspections on secondary lead in the Vietnamese market had temporarily come to an end, and some lead smelters had gradually resumed production. However, in the face of the current primary lead supply gap, spot lead in the local market continued to maintain high premiums. According to the latest information, the CIF premium for Vietnamese lead ingots with Pb≥99.99% in June had reached $180/mt as a common transaction price, compared to around $165/mt in May.

Jun 5, 2026 11:08