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Indian stainless steel industry to face challenges in Q1 of FY 2025-26-不銹鋼展-2025第二十五屆廣州國際不銹鋼工業展--The 25th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
4/7/2025 不銹鋼展-Stainless Steel exhibition |
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India''s iron ore production was provisionally estimated under the Mineral Conservation and Development Rules(MCDR), at 263 milion mt during April-February of fiscal 2024-25, up 4.4 percent over the corresponding periodof the previous fiscal, according to data released by the ministry of mines on Monday, March 31.Indian stainless steel industry will face serious challenges to growth in the first quarter (April-June) of fiscal2025-26 due to the volatility in raw material prices and inflow of cheap material from China and Vietnam, theIndian Stainless Steel Development Association (lSSDA) said in a statement on Monday, March 31.
The stainless steel sector is also likely to encounter challenges such as volatile raw material prices, especiallyfor key inputs like nickel and ferroalloys," said ISSDA president, Rajamani Krishnamurti.
These factors, coupled with global uncertainties and intensified competition, could impact profit margins, headded.
The total capacity to produce stainless steel (longs and flats) in India is 7.5 milion mt. However, 40 percent ofstainless steel capacity remains unutilised, ISSDA said.
Consumption of stainless steel is projected to increase by 22 percent in 2024-25 from 3.6 milion mt in 2023-24,and it is expected to increase further to 6.6-6.8 milion mt by 2029-30, aligned to India''s macroeconomic growth.
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