According to industry research provided to SteelOrbis, India’s growth path, which is estimated to reach 125 million mt in crude steel production by 2020, will increase the country’s consumption of steel related raw materials.
It is estimated that coking coal demand will increase from around 5 million mt estimated in 2018 to 6 million mt in 2020, up 20 percent. Iron ore demand is expected to increase from the 2018 estimate of 9.0-9.5 million mt to nearly 11 million mt in 2020, up 16-22 percent.
In regards ferrous scrap demand, the research estimates demand at approximately 20 million mt from an estimated 17 million mt in 2018, up roughly 18 percent, which will be satisfied by both increased domestic scrap production and increased import levels.