FERROUS
- Ferrous metals primarily consist of iron and different varieties of steel. Demand for ferrous metals comes from construction, automobile, engineering and infrastructure.
- India is increasing its presence in the global steel market as a result of domestic steel consumption. India has seen a rapid rise in production over the past few years, which has resulted in India becoming the fourth largest producer of crude steel with an output of 76.7 million tones. It has been envisaged that steel production will reach 110 million tonnes by 2019-20. However, based on the assessment of the current on-going projects, it has been projected that the crude steel capacity in the country is likely to be 140 mt by 2016-17 and has the potential to reach 149 mt.
