Marketing Management - Steel

STEEL INDUSTRY

INTRODUCTION:

Consumption of steel is taken to be an indicator of economic development. The major contribution directs the attention that steel is having a stronghold in the traditional sectors, such as infrastructure & constructions, automobile, transportation, industrial applications etc. Moreover, steel variant stainless steel is finding innovative applications due to its corrosion resistive property and industries such as power generation, petrochemicals and fertilizers. As far as India is concerned, it occupies a central position on the global steel map, with the establishment of new state-of-the-art steel mills, acquisition of global scale capacities by players, continuous modernization and upgradation of older plants, improving energy efficiency and backward integration into global raw material sources. India is the fifth largest steel producer at the global front and struggling to become the second largest producer in the coming years.

PAST, CURENT & FUTURE SCENARIO:

India was producing only around a million tons of steel at the time of its independence in 1947. By 1991, when the economy was opened up steel production grew to around 14 million tons. Thereafter, it doubled in the next 10 years, and then it is doubling again, maybe over a slightly longer span. Steel Production in India is expected to reach 124 million tons by 2012 and 275 million tons by 2020 which could make it the second largest steel maker.

PRODUCTION SCENARIO:

India’s steel production during 2010-li was 75.463 MTPA in up to December 2010). India has emerged as the fifth largest producer of steel in the world and is likely to become the second largest producer of crude steel by 2015-16.

TRENDS:

INPUT MATERIALS:

Essential inputs such as

* iron ore,

* limestone

* dolomite

* manganese ore

* chromites

* Ferro-alloys

* Sponge iron.

OUTPUT PRODUCTS:

* Non-Flat Products

Bars & Rods...