Global steel demand contracted around 3% on-year last year, driven by a fall of over 3% in demand from China and over 2% in the rest of the world.
The year was marked by significant volatility as sharper focus on inflation control and continuing fallouts of the Russia-Ukraine war posed challenges to global growth. Steel was among the sectors worst impacted by the resultant demand slowdown.
In India, however, the steel sector recorded double-digit growth.
In the near-to-medium term as well, driven by the government's push to infrastructure and housing along with robust automobile sector, steel demand in India is expected to remain strong, while globally, moderation is likely.
Indeed, India is expected to be the poster boy of the global steel sector and should witness a strengthening of fundamentals, driven by strong domestic demand, healthy resource availability, and only a mild contraction in steel prices.
Against this backdrop, CRISIL is organising a webinar on the steel sector where its experts will present their views on:
Impact of volatile global macroeconomic environment and inflationary headwinds
Outlook on global and domestic demand and supply for steel sector
Key drivers for domestic steel demand
Trend in steel and raw material prices, and operating margins of steel makers
Roadmap for domestic steelmakers going green
Credit outlook for both primary and secondary steel makers
This will be followed by a panel discussion with industry experts and a Q&A session.
Disclaimer: This event and its content are intellectual property and confidential information of CRISIL. Any use of the same without written permission of CRISIL is illegal and hence punishable. Recording the webinar in any form in full or part or copying, altering, distributing or streaming the webinar is strictly prohibited and violation will attract legal action.
