Iron & Steel Industry in India

Topics: Steel, Iron ore, Pig iron Pages: 17 (6391 words) Published: July 20, 2009
The objectives of the study are as follows:
To analyze the top and bottom five Iron and Steel Industries in India Analyzing the trend of key ratios across the top and bottom five Iron and Steel companies in India Finding the factors responsible in the production of Iron and Steel To analyze the data of the associated factors and finding a model for demand in Indian Iron and Steel Industry in 2010 Overview

The steel industry is a dynamic, innovative sector, which is constantly adapting and refining itself to become more competitive in the market. The industry does this by developing new, improved steel grades and production procedures that produce better and more cost-effective product lines for the changing marketplace. Today developing countries lead the growth in world steel demand. Steel is a key material in promoting economic growth as it is critical in the creation of infrastructure, construction materials, building, transport, machinery, and consumer goods. Steel is crucial to the development of any modern economy and is considered to be the backbone of human civilisation. The level of per capita consumption of steel is treated as an important index of the level of socioeconomic development and living standards of the people in any country. It is a product of a large and technologically complex industry having strong forward and backward linkages in terms of material flows and income generation. All major industrial economies are characterised by the existence of a strong steel industry and the growth of many of these economies has been largely shaped by the strength of their steel industries in their initial stages of development. Steel industry was in the vanguard in the liberalisation of the industrial sector and has made rapid strides since then. The new Greenfield plants represent the latest in technology. Output has increased, the industry has moved up in the value chain and exports have raised consequent to a greater integration with the global economy. The new plants have also brought about a greater regional dispersion easing the domestic supply position notably in the western region. At the same time, the domestic steel industry faces new challenges. Some of these relate to the trade barriers in developed markets and certain structural problems of the domestic industry notably due to the high cost of commissioning of new projects. The domestic demand too has not improved to significant levels. The litmus test of the steel industry will be to surmount these difficulties and remain globally competitive. {text:bookmark-start} The world steel industry {text:bookmark-end} Iron and steel are the main constituents of many products used in everyday life. Crude steel is used to make semi-finished and finished products destined for the consumer market or as inputs for further processing. Semi-finished products include steel shapes (blooms, billets or slabs) that are later rolled into finished products such as beams, bars or sheet. Finished products are subdivided into two basic types: flat and long products. There are more than 3,500 different grades of steel with many different properties – physical, chemical and environmental. Alloyed steels, which are sometimes also called special steels and may be considered specialty products, contain small portions of alloying elements such as chromium, cobalt, manganese, molybdenum, nickel, niobium, silicon, tungsten or vanadium. They are used in special applications, particularly those requiring high strength or corrosion resistance. The most important of these is stainless steel, which contains mainly chromium and nickel in varying proportions. Alloyed steels account for a relatively small portion of all finished steel products, and their production and use are concentrated in developed countries and also in China. The history of the world steel industry can be divided into three periods: two booms and one transformation....
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