Why has steel held the construction community in its grip?
Steel

Why has steel held the construction community in its grip?

The pandemic had a minimal impact on the global steel industry last year. The production of crude steel increased from 1,826 million tonne (mt) in 2018 to 1,878 mt in 2020, according to the World Steel Association. Demand for steel was around 1,775.4 mt in 2020, adds Alok Sahay, Secretary-General, Indian Steel Association. “Despite the influence of the pandemic, through its different regional impacts, the global steel industry was fortunate to end 2020 with only a minor contraction in steel demand. Steel use in China expanded while it contracted in the rest of the world.”

Based on forecasts, Sahay expects normalisation in demand during 2021, owing to steady progress on vaccines and changed behaviour in the global society. “Demand for steel is expected to grow 4.5 per cent in CY 2021 and 2.2 per cent in CY 2022,” he says.

Where does India stand in all this?

Click here to read more on...

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The pandemic had a minimal impact on the global steel industry last year. The production of crude steel increased from 1,826 million tonne (mt) in 2018 to 1,878 mt in 2020, according to the World Steel Association. Demand for steel was around 1,775.4 mt in 2020, adds Alok Sahay, Secretary-General, Indian Steel Association. “Despite the influence of the pandemic, through its different regional impacts, the global steel industry was fortunate to end 2020 with only a minor contraction in steel demand. Steel use in China expanded while it contracted in the rest of the world.” Based on forecasts, Sahay expects normalisation in demand during 2021, owing to steady progress on vaccines and changed behaviour in the global society. “Demand for steel is expected to grow 4.5 per cent in CY 2021 and 2.2 per cent in CY 2022,” he says. Where does India stand in all this? Click here to read more on...

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?