【SMM Steel】India becomes primary driver of new blast furnace capacity globally – GEM

Published: May 18, 2026 14:41

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【SMM Steel】GEM's annual report shows that India accounts for over 60% of new BF steel capacity worldwide, with a total of 319 mln tonnes per year announced or under construction globally. India and China together account for 86% of new coal-based steel projects. An additional 80 mln tonnes of BF capacity are slated for modernization, while official closure plans cover only 141 mln tonnes, potentially leading to a net increase of 88 mln tonnes by 2035. ~93% of India's new pig iron capacity is BF-based, but only 5% of planned BF capacity has reached the construction stage. EAF share of global steel production is 34%, while only 2% of DRI capacity uses green hydrogen.

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