ArcelorMittal Expects 2021 Steel Consumption To Rise The Most In India
ArcelorMittal SA expects steel consumption to grow at the fastest pace in India during the calendar year 2021.
The steelmaker estimates apparent steel consumption, or total domestic production and net imports, to rise 16-18%, according to its statement. That’s about twice the estimated pace for the rest of the world (excluding China) where it sees demand growing 8.5-9.5%.
According to ArcelorMittal, apparent steel consumption is expected to:
- Grow 10 to 12% in the U.S., with stronger demand for flat products—particularly automotive—while construction demand (non-residential) remains weak.
- Rise 7.5-9.5% In Europe.
- Grow 6.0-8.0% in Brazil, supported by ongoing construction demand and recovery in the end markets for flat steel.
- Rise 4-6% In the Commonwealth of Independent States.
- Grow 1-3% in China, supported by ongoing stimulus.
- ArcelorMittal Nippon Steel India Ltd.’s crude steel production stood at 1.8 million tonne in January-March compared with 1.9 MT in the preceding quarter.
- Ebitda stood at $0.4 billion vs $0.3 billion.
- Demand and utilisation have improved after the economy reopened following the lockdown last year.
- ArcelorMittal and Nippon Steel India Ltd. signed a memorandum of understanding with the government of Odisha to set up an integrated steel plant with a capacity of 12 million tonnes per annum in Kendrapara.
- The joint venture plans to debottleneck operations (steel shop and rolling parts) and achieve capacity of 8.6 MT a year and plans to expand it to 14 MTPA in the medium term.