High raw material costs take the sheen off stainless steel industry

High raw material costs prove a major hindrance in producers' efforts to increase per capita use

In both carbon and stainless steel, per capita use in India trails the world average of 208 kg and 6kg, respectively by distressingly long margins. The country’s continuing disappointing record in the application of steel, particularly away from urban centres is because only a handful of companies in the private and public sectors are engaged in aggressive market promotion. The national steel policy has formulated a strategy to lift the per capita consumption of steel from the present 62 kg to 160 kg by 2030-31. No doubt, this will be a good crack at raising steel application. But our 2030-31