Huw McKay, vice-president, analysis and economics, at Australia’s BHP Billiton, said, “Steel is going to be a great enabler for the Indian growth story, particularly for the downstream sector.” The construction and infrastructure sectors are expected to encounter the highest growth in steel demand. McKay added that steel demand in India is expected to be 8 per annum compounded rate until 2025.
McKay added that BHP expects steel demand to reach roughly 170 million mt by 2025, almost doudble from 2016 levels, though he added that “India’s 300 million mt annual output steel goals may be aspirational.” India’s coking coals imports are expected to reach 69 million mt by 2020, higher than China’s import level estimates for 2020.