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India recognised as the global driver of steel demand growth
The Business Guardian
|August 18, 2024
India has been recognised as the leading global driver of steel demand growth since 2021, according to a statement from the Ministry of Steel on Friday.
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The ministry emphasized that, according to the World Steel forecast, the demand of steel globally is set to experience a 1.7 per cent rebound this year, reaching 1,793 metric tons. Additionally, it projected that by 2025, steel demand will see a further growth of 1.2 per cent, reaching 1,815 metric tons.
“World steel forecasts that this year demand will see a 1.7 per cent rebound to reach 1,793 Mt. Steel demand is forecast to grow by 1.2 per cent in 2025 to reach 1,815 Mt. India has emerged as the strongest driver of steel demand growth since 2021,” the ministry stated.
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