"Consumption growth outlook rather strong for both India and ASEAN region"

During her presentation on the outlook for the Indian and ASEAN steel markets during the second session of the SteelOrbis 2025 Fall 2025 Conference & 93rd IREPAS Meeting held in Munich on September 28-30, Anastasiia Kononenko, head of the Asia market intelligence team at SteelOrbis, focused on production growth, consumption, the impacts of tariffs and import-export dynamics.

India sees rising consumption and expanding capacities

Ms. Kononenko noted that both Indian finished steel production and consumption exceeded expectations in August this year, with 13.4 million mt of production and 13.5 million mt of consumption. The country’s finished steel consumption rose by 11.5 percent in FY 2024-25 (April 1, 2024 to March 31, 2025), while long-term forecasts suggest a six percent annual growth rate through 2030. This would add approximately 43 million mt of additional demand over five years. She added that growth has been very sustainable for the past five years, and so far all signs indicate it will continue...

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