Likewise, the Chamber has fore casted that by 2012, the operating capacities of indigenous steel industry will rise to 73 MTPA against NSP projections of 57 MTPA. Currently, steel sector operates at 42 MTPA capacities.
World stainless steel demand is expected to rise 4.9% per year to 2010. Stainless Steel demand in India and China is Presumed to be 7% per year and 8.4% per year, respectively, during this period, while annual growth in the rest of the world is expected to be 4%. Projections for 2010 to 2015 suggest a 4.2% annual growth in worldwide stainless steel demand, with growth reaching 7.7% per year for India and 6.2% per year for China during the same period.
The report, entitled “Beyond the Boom: The Outlook for Global Steel,” predicts that the worldwide stainless steel industry will achieve significant growth of 3 to 4 percent per year through 2015, reaching 1.55 billion to 1.7 billion metric tons annually. Over the same period, sustained high prices for raw materials and increasing consolidation will help to stabilise stainless steel prices. The long-term profitability of the industry will likely be better than during the “stalemate” years of 1974-2001, but not as strong as during the recent boom.
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