What Is Steel and Steel Sector ?
Steel is an alloy of iron and carbon. It is produced in a two-stage process.
India became the fourth largest steel-producing nation in the world with production of over 86.5 million tonnes (MT). This wide gap in relative steel consumption indicates that the potential ahead for India to raise its steel consumption is high.
Being a core sector, steel industry tracks the overall economic growth in the long term. Also, steel demand, being derived from other sectors like automobiles, consumer durables and infrastructure, its fortune is dependent on the growth of these user industries.