India To Drive Global Demand For Steelmaking Raw Materials
COAL & MINING

India To Drive Global Demand For Steelmaking Raw Materials

India is set for a sharp rise in demand for iron ore, coking coal and potash, fuelled by accelerating infrastructure investment and a growing manufacturing sector, according to BHP’s Economic and Commodity Outlook.
The report projects that India’s annual steel demand will quadruple over the next 25 years, directly increasing the requirement for steelmaking raw materials. While India has exported an average of 30 million tonnes of iron ore annually over the past nine years, BHP notes that the country will increasingly act as an opportunistic importer during periods of domestic supply disruption.
On global markets, BHP forecasts mixed dynamics in the year ahead: refined copper, uranium and potash are expected to remain broadly balanced, while steelmaking raw materials and nickel are likely to face surpluses. India’s strong domestic demand, favourable demographics and rising investments position it as the fastest-growing major economy, with steel production growth expected to offset declines in China’s post-plateau output.
Potash demand in India has surged in line with global trends. Benchmark prices rose through the first half of CY25, with new contracts signed at Rs 30,379 (US$349) per tonne, around 25 per cent higher than last year. Imports grew by more than 20 per cent in the first five months of CY25, underscoring India’s growing role in global fertiliser markets.
BHP emphasises that India, along with other parts of developing Asia, is entering a long-term structural growth phase, driven by regional trade integration and rising domestic consumption. With expanding infrastructure and manufacturing, India’s appetite for critical raw materials will be a defining factor in shaping regional and global commodity markets in the decades ahead. 

India is set for a sharp rise in demand for iron ore, coking coal and potash, fuelled by accelerating infrastructure investment and a growing manufacturing sector, according to BHP’s Economic and Commodity Outlook.The report projects that India’s annual steel demand will quadruple over the next 25 years, directly increasing the requirement for steelmaking raw materials. While India has exported an average of 30 million tonnes of iron ore annually over the past nine years, BHP notes that the country will increasingly act as an opportunistic importer during periods of domestic supply disruption.On global markets, BHP forecasts mixed dynamics in the year ahead: refined copper, uranium and potash are expected to remain broadly balanced, while steelmaking raw materials and nickel are likely to face surpluses. India’s strong domestic demand, favourable demographics and rising investments position it as the fastest-growing major economy, with steel production growth expected to offset declines in China’s post-plateau output.Potash demand in India has surged in line with global trends. Benchmark prices rose through the first half of CY25, with new contracts signed at Rs 30,379 (US$349) per tonne, around 25 per cent higher than last year. Imports grew by more than 20 per cent in the first five months of CY25, underscoring India’s growing role in global fertiliser markets.BHP emphasises that India, along with other parts of developing Asia, is entering a long-term structural growth phase, driven by regional trade integration and rising domestic consumption. With expanding infrastructure and manufacturing, India’s appetite for critical raw materials will be a defining factor in shaping regional and global commodity markets in the decades ahead. 

Next Story
Infrastructure Urban

Indian REITs Association Joins Global REIT Alliance

The Indian REITs Association (IRA) has become a member of the Global REIT Alliance, a coalition representing the global Real Estate Investment Trust (REIT) sector. The alliance, launched at the European Public Real Estate Association’s 2025 ReThink conference in Stockholm, aims to promote cross-border cooperation, policy dialogue, and market standardisation for the growth of REITs as an investment asset class.The Global REIT Alliance, which includes members from 24 countries, focuses on promoting global awareness of securitised real estate, supporting sustainable investment, providing indust..

Next Story
Infrastructure Transport

Vande Bharat May Soon Connect Chennai and Rameswaram

Southern Railway plans to introduce a Vande Bharat Express between Chennai and Rameswaram following the completion of electrification on the 53-km Ramanathapuram–Rameswaram section.A proposal has been submitted to the Railway Board to operate the new daytime service from either Chennai Egmore or Tambaram, aiming to ease congestion on existing overnight trains along the 600–660 km route.Officials noted that while the section is cleared for electric locomotives, a 220-metre gap near Uchipuli will undergo trials before the Vande Bharat is introduced. The final route will consider travel time,..

Next Story
Infrastructure Transport

RITES Partners with Etihad Rail to Boost Infrastructure Collaboration

RITES, a leading transport infrastructure consultancy and engineering firm, has signed a Memorandum of Understanding (MoU) with UAE-based Etihad Rail to enhance business collaboration with its subsidiary, National Infrastructure Construction Company (NICC).The partnership aims to combine RITES’ five decades of expertise in consultancy, transport infrastructure, and engineering with NICC’s execution capabilities, creating synergies for infrastructure projects across the UAE and other regions.The MoU was signed by HE Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Di..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?