Indian steel industry sees crude steel output to reach 100 million tons by 2013
Reportedly, the Indian steel industry forecasted that the country’s annual crude steel production would rise by 20% to hit 100 million tons by 2013.
It’s known that India has continued to expand its steel output and the country expected to become the world second largest steel producer in 2016, according to Essar Steel.
In addition, Essar Steel has also seen the country’s steel overcapacity would be problem in next few years.
Therefore, India has to find a solution to solve steel overcapacity issue against weak demand.