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A Comparative Study
Steel Industry
Introduction
Steel industry is often considered to be an indicator of economic progress, because of the critical role played by steel in infrastructural and overall economic development
In 1980, there were more than 500,000 U.S. steelworkers. By 2000, the number of steelworkers fell to 224,000
The economic boom in China and India has caused a massive increase in the demand for steel in recent years
Between 2000 and 2005, world steel demand increased by 6% In 2005, the British Geological Survey stated China was the top
steel producer with about one-third of the world share; Japan, Russia, and the US followed respectively
In 2008, steel started to be traded as a commodity in the London Metal Exchange
Indian Steel Industry
The Indian iron and steel industry is nearly a century old, with Tata Iron & Steel Co (Tata Steel) as the first integrated steel plant to be set up in 1907.
It was the first core sector to be completely freed from the licensing regime The New Industrial policy adopted by the Government of India has opened up
the iron and steel sector for private investment by removing it from the list of industries reserved for public sector
Soaring demand by sectors like infrastructure, real estate and automobiles, at home and abroad, has put India's steel industry on the world map.
Dominating the Indian horizon is steel giant Tata Steel, whose takeover of the UK-Dutch steel company Corus is the country's biggest buyout.
Already, India's consumption of stainless steel is much higher at 14 per cent, compared to the global consumption of six per cent in the last 15 years.
Domestic consumption of finished (carbon) steel is on the rise, driven by a boom in the automobile sector and a nation-wide thrust on infrastructure and real estate.
Industry Structure
Indian Iron and steel Industry can be divided into two main sectors Public sector and Private sector.
On the basis of routes of production, the Indian steel industry can be divided into two types of producers : Integrated producers
Those that convert iron ore into steel. There are three major integrated steel players in India, namely Steel Authority of India Limited (SAIL), Tata Iron and Steel Company Limited (TISCO) and Rashtriya Ispat Nigam Limited (RINL).
Secondary producers These are the mini steel plants (MSPs), which make steel by melting
scrap or sponge iron or a mixture of the two. Essar Steel, Ispat Industries and Lloyds steel are the largest producers of steel through the secondary route.
Production Scenario
The International Iron and Steel Institute (IISI) ranked India as the seventh largest steel producer in the world with an overall production of about 44 million tonne (MT) in 2006.
Apparent worldwide steel demand is forecast to grow to between 1,040 and 1,053 MT from a total of 972 MT. This is a growth of 4-5 per cent
The total production of finished carbon steel in the country has been 42.636 million tonnes
The total production of Pig Iron was 3.9 million tonnes Earlier Pig Iron was produced primarily by the integrated steel plant
of SAIL and RINL. Of late, the share of stand-alone pig iron units has increased significantly
The production of DRI has increased from 1.31 million tonnes to 5.403 million tonnes registering an increase of nearly 4.12 times
Import & Export of Iron & Steel
Iron & Steel products are freely importable as per the extant policy. In the past, India has been importing around 1.5 million tones annually. Advance Licensing Scheme allows duty free import of raw materials for exports
Similar to the Import policy for the Iron & Steel Products, the exports of these can also be done freely
Government introduced schemes under the Duty Entitlement Pass Book Scheme (DEPB) to facilitate exports
Under this scheme, exporters on the basis of notified entitlement rates, are granted due credits which entitles them to import duty free goods in return
Consumption Of Steel
Consumption of steel is arrived at by subtracting export of steel from the total of domestic production and adding the import of steel in the country
Consumption of Steel : 1990-91 14.37 1991-92 14.83 (3.2%) 1992-93 15.00 (1.2%) 1993-94 15.32 (2.0%) 1994-95 18.66 (21.8%) 1995-96 21.65 (16.0%) 1996-97 22.13 (2.2%) 1997-98 22.63 (2.6%) 1998-99 23.54(4.02%) 1999-2000 25.01(6.24%) 2000-2001 26.53(6.08%) 2001-2002 27.44(3.39%) 2002-200320.65(5.0%)
The figures in brackets indicate the% percentage increase over the previous year
Current Global Scenario
In the year 2000, the World Crude Steel production was 848 million tonnes, showing an impressive growth of 7.6% over the previous year
The world steel consumption also rose by almost 8%
The international steel trade constituted around 303 million tons or 40.5% of the production
In 2009 and 2010, world crude steel production was 833.70 million tonnes and 886.70 million tonnes, respectively
The following significant developments have been witnessed recently in the global steel scenario :
There has been a spate of mergers and acquisitions all over the world in the steel industry
China has emerged as the most vibrant market for steel production and consumption
In March 2002, the US President announced imposition of temporary safeguard measures on import of key steel products into USA
China, Canada and Thailand etc. have initiated safeguard investigations against import of steel products into their countries
Domestic Scenario
The iron and steel sector has been experiencing a slowdown in the last few years
The steel market remained sluggish and price levels of steel and steel products remained stagnant
This stagnancy resulted in steel companies registering net losses
The growth of steel sector is dependent upon the growth of the economy in general and the growth of industrial production and infrastructure sectors in particular
Reasons for Slow Growth
The major reasons for the slow growth in the steel sector during the last few years include : (a) Cost escalation in the input materials for iron and steel
Power tariff, freight rates, coal prices etc. have been under the administered price regime. These rates have been frequently enhanced, thereby contributing to the rise in input costs for steel making
(b) Continuous reduction in import duty on iron and steel
Import duty rates on iron and steel items have been gradually reduced over the years. This has opened up the domestic iron and steel sector to international competition
Major Players
The Asian countries have their respective dominance in the production of the steel all over the world
India being one among the fastest growing economies of the world has been considered as one of the potential global steel hub internationally
Based on the list by World Steel Association, Some of the World’s Major steel Players are :
Arcelor Mittal Baosteel Group Tata Steel POSCO Nippon Steel SAIL
Apart From the Above list of companies there are certain other players in the market which play a great role in the Steel Industry
Profile O
f Major P
layers
Arcelor Mittal
Global steel company headquartered in Luxembourg
Largest steel producing company in the world
Market leader in steel for use in automotive, construction, household appliances and packaging
The company was formed in 2006 by the merger of Arcelor and Mittal Steel
It ranks 99th on the 2010 Fortune Global 500 list
Industrial presence in Europe, Asia, Africa, North America, and South America
Baosteel group
Shanghai Baosteel Group Corporation commonly referred to as Baosteel
State-owned iron and steel company headquartered in Shanghai, China
Second-largest steel producer in the world measured by crude steel output
Annual output of around 20 million tons
Employs around 109,000 employees, has annual revenues of around $21.5 billion and produces a mix of high-quality products
Tata Steel
Founded by Dorabji Tata in 1907 headquarter in Mumbai, India and plant in Jamshedpur, India
Seventh largest steel company in world and the largest private sector steel company in India in terms of domestic production.
Have annual crude steel capacity of 31 million tons
Has annual revenue of $22.741 billion
Tata Steel has set an ambitious target to achieve a capacity of 100 million tonne by 2015
Tata Steel is planning a 50-50 balance between greenfield facilities and acquisitions
Bhushan Steel
Largest manufacturer of auto-grade steel in India
Gross sales of Bhushan Steel grew from Rs. 500 crore in 2001 to Rs. 4000 crore in 2007
Headquartered at New delhi & Brij Bhushan Singhal is the acting chairman
The Khopoli plant in Maharashtra was commissioned in 2004 and has been producing colour coated sheets, high tensile steel strappings, hardened and tempered strips and precision tubes
At its Sahibabad plant in Ghaziabad, Uttar Pradesh, it has a 1700 mm mill
Bhushan Power and Steel Limited has seven plants at four locations – Chandigarh, Derabassi in Punjab, Bangihatti, near Dankuni in West Bengal, and Thelkoloi in Orissa
Bokaro Steel Plant
Bokaro Steel Plant is located in the Bokaro district of Jharkhand
It is the fourth integrated public sector steel plant in India built with Soviet help
It was later merged with the state owned Steel Authority of India Limited (SAIL)
At present it houses five blast furnaces with total capacity to produce 4.5 MT of liquid steel. The plant is undergoing a mass modernisation drive after which its output capacity is expected to cross 10 MT
Essar Steel
Essar Steel is the one of the leaders in the country and abroad in the steel sector
The company has a number of international centers like the Minnesota Steel LLC, a company located in the USA, Algoma Steel in Canada, Greenfield projects in Vietnam, Steel plant in Indonesia, and Integrated steel plant Trinidad and Tobago
It has a current capacity of 8.6 million tonnes which they plan to raise to 14 mt by 2011-12
Steel Authority Of India Ltd.
One of the largest state-owned steel makers in India and one of the top steel makers in World
With a turnover of 48,681 crore (US$10.86 billion), the company is among the top five highest profit earning corporates of the country
With an annual production of 13.5 million metric tons, SAIL is the 14th largest steel producer in the world
Incorporated on January 24, 1973, SAIL has more than 131,910 employees
POSCO India
POSCO-India Private Limited is a planned Indian subsidiary of POSCO, an integrated steel producer with headquarters in Korea
POSCO signed a Memorandum of Understanding (MoU) in June 2005, to incorporate an Indian subsidiary and build a steel plant in Orissa
Posco India was incorporated by POSCO in August 2005 with the Registrar of Companies, Orissa, under India's Companies Act 1956
As of July 2011, various delays and controversies have prevented POSCO-India from building the steel plant in Orissa. The June 2005 MoU expired in June 2011
In addition to its attempt to establish a steel plant in Orissa, Posco-India is considering alternate sites for a steel plant. In June 2010, Posco signed a memorandum of understanding with the state of Karnataka. In July 2011, the government of Karnataka announced an approach to land acquisition for Posco project in its state that is different than the approach of the government of Orissa
Mahindra Ugine Steel
Mahindra Ugine Steel (MUSCO) is a manufacturer of specialty steel, stampings, and rings headquartered in Mumbai, India owned by Mahindra Group
MUSCO has three stampings facilities located near key automotive clusters in India: Kanhe to serve the manufacturing cluster in Pune; Nashik; and Rudrapur to serve Northern India
Together, MUSCO has a total stampings capacity of 30,000 metric tons per year
Its ring rolling division also has a total capacity of 30,000 metric tons
Vizag Steel
Visakhapatnam Steel Plant,opened by popularly known as Vizag Steel is one of the major steel producers in India
Founded in 1971, the company focuses on producing value-added steel, with 214,000 tonnes produced in August 2010, out of 252,000 tonnes total of salable steel produced
Expenditure for the financial year 2009-10 Rs 1840 Crore
Rs 5883 Crores since inception of the Project
Total Commitment, including enabling works, steel procurement, Consultancy, Spares, etc is Rs 11591 Crores
Jindal Steel & Power
Jindal Steel and Power Limited (JSPL)is the most valuable private steel producer in India, with an annual turnover of over US $2.1 billion (Rs. 11,000 crore)
Jindal Steel & Power Limited (JSPL) is a part of about US$ 12 billion diversified O. P. Jindal Group. JSPL is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure
An 11 million ton integrated steel plant and 2600 MW captive power plant in phases, with a total investment of US $ 6.00 billion, (Rs. 30,000 crore)
A 12.5 million ton integrated steel plant and 2600 MW captive power plant in phases, with a total investment of US $ 8.00 billion (Rs. 40,000 crore). The first phase of 3 million ton is expected to be commissioned by 2011
Welspun Corp Ltd
Welspun Corp Ltd is the second largest manufacturer of large diameter pipes in the world based in Mumbai, Maharashtra. Flagship company of the $3 billion (Rs 12,900 crore) Welspun Group
It operates a 1.65 mtpa plant in Anjar, Gujarat, which is being increased to 2.1 mtpa
The Welspun Pipes Division manufactures pipes from Dahej (Gujarat), Anjar (Gujarat) and Mandya (Karnataka) in India and Little Rock, Arkasans in the U.S
Hebei Iron & Steel
Hebei Iron and Steel Group Company Limited was established on June 30, 2008 with the merger of Tangsteel and Hansteel in Hebei province, China
It is expected to produce an annual capacity of 30 million tonnes of steel.
It is the largest steel producer in China and the second largest in the world
Revenue :24,033.7 ($ millions) Employees :121,807
Nippon Steel
Nippon Steel Corporation is the world's 4th largest steel producer by volume
Nippon Steel was created by the merger of two giants, Yawata Iron & Steel
In early 2011, Nippon Steel announced plans to merge with Sumitomo Metal Industries. With Nippon Steel producing ~26.5 million tonnes of steel per year and Sumitomo making ~11 million tonnes, the merged entity would produce close to 37 million tonnes of crude steel per year
This volume of steel output would make Nippon Steel the second largest steelmaker in the world, putting it well ahead of Baosteel - the current number two (making ~31 mt steel / year) - although still well behind ArcelorMittal
Wuhan iron & Steel
Founded in 1958 in Qingshan, Wuhan, Hubei, China
It was China's first supergiant iron and steel complex
Annually, the company produces ten million tons of iron and steel each
Its subsidiary, Wuhan Iron and Steel Company Limited (SSE: 600005), was listed on the Shanghai Stock Exchange in 1999
Pre & Post Globalization
Arcelor Mittal before globalization
In 1989, acquired Iron & Steel Company of Trinidad & Tobago
In 1992, acquired Sibalsa, third largest steel producer in Mexico
In 1995, a major Soviet blast furnace steel plant, was bought from the former republic
In 1994, acquired Sidebec-Dosco, Fourth largest steel producer in Canada
In 1995, Acquisition of Hamburger Stahlwerke which formed Ispat International Ltd. and Ispat Shipping formed and Karmet
In 1997, Ispat International NV goes public
In 1998, Ispat International acquired the Inland Steel Company
In 1999, acquired Unimetal
Tubular Pipes Manufactured By
Arcelor Mittal
Baosteel before Globalization
Initially started as Baoshan Iron and Steel as a government flagship steel company
Benefitted by the Chinese economic expansion and consumed all available steel
Decided to add extra trade marketing component to remain in competition and succeeded in South Korea
Hurt by Asian financial crisis and in 1998, absorbed Shanghai Metallurgical Holding Group Corporation and Shanghai Meishan Group Co. and formed Shanghai Baosteel Group Corporation to be profitable
Became largest steel producer company in country
Carbon Steel
Tata Steel before Globalization
First steel manufacturer company in India
Overseas acquisitions have already added up to 21.4 million tonne
Cold Rolling Mill -Best ever annual saleable production of 1.54 mt
Hot Strip Mill -Best ever annual production of 3.27 mt
LD2 & Slab Caster Unit -Best ever annual production of 3.36 mt
Best ever annual production of 2.05 mt Not greatly innovative Taken the initiative to change all the
technology and spent 10,000 crores to restore all the plant
In 2001, became the lowest cost producer and the most modern company in the world
Arcelor Mittal after Globalization
In 2001, company acquired ALFASID from Algerian government and Sidex from Romanian government
In 2002, signed the business assistance deal with South Africa’s Iscor
In 2003, acquired Nova Hut from Czech government In 2004, takeover International steel group of US, Bosnia’s BH
steel and Polskie Huty Stali in Poland In 2005, Plan to invest US$9 billion in State of Jharkhand,
India, Mining agreement with Liberian government, first time move into China by buying 36.67% of Hunan Valin Steel Tube & Wire
In 2005, first time made into Fortune 500
Boasteel after globalization
In 2001, partnership with Shougang Group and Wuhan Iron and Steel Group Corporation
In 2001, signed an agreement with ThyssenKrupp of Germany
Recently constructed a state-of-the-art facility in Zhanjiang, Guangdong, at the cost of $10 billion
Also intends on launching an IPO in Hong Kong In 2010, Baosteel Co., Ltd. sold 25.261 million tons
of steel and realized a total operating revenue of RMB 202.41 billion
Tata Steel after Globalization
Record annual billet production in Singapore at 0.75mt Record annual Bar/Wire Rod production in Singapore at 0.74
mt Increase in sales of 12.90% y-o-y at 2.5 mt in FY 08 Increase of 29% in sales volume over FY 07 at 1.43 mt at
Thailand Energy consumption has decreased by 9% in Singapore,
Vietnam and Xiamen Improvement in service charges by 5$-10$/ton Reduction in Inventory days Project sales contracts reduced from 18 months to less than
12 months
Essar Steel
Essar Expansion Includes :1. Oxide yard expanded, from storage capacity of 4.5 lakh metrictones (MT) to 12 lakh MT2. Barge Un loader BU-IV constructed and commissioned3. Direct feeding conveyor PC-1 & 2.4. Long conveyor oxide transfer from Hot Briquetted Iron (HBI) to HotRolled Coil (HRC) unit.The above upgrades have prepared your Company to match the handlingNeed s of the enhanced (4.6 MTPA) plant capacity
Capacity Expansion:In 2006, your company completed the capacity expansion at its HaziraSteel Plant, from 2.4 million tonnes per annum (MTPA) to 4.6 MTPA. Theprocess was completed in November last year at an investment of aroundRs 2,000 crore. Additionally, the capacity of the cold rolling mill andgalvanising plant was also augmented.
Essars’ Future Plan of action
Essar Steel Minnesota LLC plans to set up an integrated pelletization plant in northeast Minnesota
12.0 MTPA integrated pelletization facility coming up at Paradeep is located in the iron ore-rich state of Orissa in India
The Paradeep project is being implemented in two phases. The first phase comprises : An 8.0 MTPA iron ore beneficiation plant at Dabuna in Orissa, close to
iron ore mines A 6.0 MTPA pellet plant at Paradeep A 253 km underground slurry pipeline for transporting concentrates to the
pellet plant
The next phase will comprise scaling the capacity to 12.0 MTPA by October 2012.
POSCO
POSCO have pursued investment opportunities in other developing countries such as Vietnam and Mexico
POSCO plans to build the US$1 billion plant in two phases for hot-rolled and cold-rolled products by 2012
Posco also plans to build a $250 million plant in the city of Altamira, Mexico, to produce 400,000 tons of galvanized steel sheet a year for automakers
On June 30, 2006, POSCO completed the construction of its sixth continuous galvanizing line (CGL) at its Gwangyang mill in the South Jeolla Province. With this new addition, POSCO becomes the no. 2 producer of sheet-steel just behind ArcelorMittal
Posco to invest $200m in Tuwairqi Steel expansion
Nippon Steel
Nippon Steel Corp and Sumitomo Metal Industries plan to choose a single partner in India, as they prepare to combine to create the world’s second-largest steelmaker
Nippon Steel, Japan’s biggest mill, and Sumitomo Metal are seeking regulatory approval to combine to speed global expansion. They are racing against rivals, including JFE Holdings Inc, South Korea’s Posco and ArcelorMittal, to tap demand for steel in India, the second-fastest growing major economy
Nippon Steel and Mitsubishi Heavy Industries, Ltd. (MHI) jointly created a high tensile strength steel. The first application this steel was used for was the hulls of container ships. This steel allows the ships to be just as strong without the thick steel that it was requiring for them to grow in size
Problems of Steel Sector
Even after the globalization this sector faced the following problems : High cost & limited availability of coking coal Low productivity of labor Irregular supply of energy Unable to draw the best professionals in the steel industry There is need to allocate resources for research & development to
produce steel more competitively Condition of the infrastructural facilities of the steel industry in India
is not at all conducive to a sustainable growth and development of the steel industry of the India
Creation of wealth in the Indian steel industry is also supposed to act as hindrances to the growth and development of the Indian steel industry
Indian Steel Industry In A Changing Global Scenario
Steel industry in the world, which was characterised as a sunset industry two decades ago, is experiencing a vast change in scenario
The fast developing Chinese steel industry has far outstripped the world steel giants. United States, Russia and Japan, which were leading steel producers, are no more in a position to claim that position
China, producing less than a million tonnes of steel prior to revolution in 1949, has now become the largest steel producer in the world
During 2005 the global steel production stood at 1132 million tonnes, showing a rise of 6 per cent over the last year. The countries in South America, CIS (former Soviet Union) Europe and North America have actually shown negative growth. The Asian continent for the first time produced more crude steel than the rest of the world combined
Per capita consumption of steel in the world was estimated to be 170 kg during the year 2005. However in India it stood at only 35 kg during the same year.
Indian steel production was 38 million tonnes, which accounted for only 3.4 per cent of the world steel output.
In view of the fact that Indian population is 16 per cent of the global population, the production of steel is much lower in India.
Although India is the second largest populated country in the world, it ranks eighth in steel production.
Steel Authority of India Ltd (SAIL) is ranking 17th among the world’s largest steel producing companies
India has extremely low level of consumption of steel and the government of India has not made attempts to promote use of more indigenously produced steel. For example, in construction of a house even today more wood is being used than
steel which is resulting in cutting down of our valuable forest wealth The per capita consumption of steel in rural India is a mere 3 kg. The wrong
thrust given on export of steel has also resulted in the utter neglect of developing rural market for steel
The government of India adopted a wrong policy of drastic reduction of manpower on the plea of making the steel industry competitive.
Voluntary Retirement Scheme (VRS) was recklessly implemented which resulted in large number of skilled workers leaving the steel plants
The government of India, as a policy measure, systematically reduced the role of the public sector in steel industry
It forced the SAIL management to appoint Mckinsey, a World Bank sponsored MNC consultancy firm, to suggest restructuring of the organisation
Mckinsey recommended sale of Alloy Steel Plant Durgapur, Salem Steel Plant and Visweshwarayya Iron and Steel Co. Ltd
It also recommended privatisation of IISCO. It further advised SAIL to drastically reduce the manpower and increase the workload on the workers
It was only due to the strong trade union movement in these plants that they were saved from privatisation and sale. Salem Steel Plant developed a big political movement to oppose selling it to Jindals and Tatas even as workers came on to the roads to resist the move
Repeated attempts made by the central government to sell IISCO were resolutely opposed by the ‘Save IISCO Committee’, which was jointly formed by all the trade unions and officers associations
The neglect of safety aspect is resulting in large number of fatalities in the steel industry
In SAIL alone during 2004, 20 workers lost their life in accidents while the number increased to 25 during 2005. During first five months of 2006, 13 workers died in accidents, which clearly reflects an increasing trend.
About 49 per cent of the fatal accidents are caused in rail and road movements while the second largest killer is the hitting of a worker by any object in the plant.
About 10 per cent of accidents are caused due to falling from height. Burns, explosion, metal spillage, suffocation, electrocution and gas poisoning has also led to loss of precious lives of the workers
The steel industry in India is experiencing favorable conditions due to upswing in international prices.
The cold rolled coils prices increased from $478 to $587 per tonne between January and April 2006 while hot rolled coil prices shot up from $368 to $469 per tonne during the same period.
However one cannot be certain about the long term trend in these prices. It is imperative that the steel industry in India should mainly depend on
domestic consumption and steps should be taken to boost the domestic market
India must develop its own technology in production of machinery, which alone will result in making the country self-reliant in steel sector. Over-dependence on foreign machinery is making steel costlier
Measures taken by Ministry of Steel to boost Demand
The Ministry of Steel has been making all out efforts to help the domestic steel sector to overcome the problems faced by the steel industry and boost demand for steel in the steel consuming sectors. These include:- (a) Establishing Training cum Service institutes (b) Campaign for increasing demand for Steel (c) Reduction in Power & Rail Tariffs (d) Reduction in input costs (e) Strengthening of Anti Dumping mechanism
Conclusion
The Indian steel industry is among the upcoming industries of the world. It has a number of iron ores, which means that it has plenty of resources from which to draw its raw material
The rate of production of steel in India has been going up at a steady rate in the last few years.
In the recent times Orissa and Jharkhand have been identified as the potential steel destinations of India - the ones that would provide the Indian steel industry with its necessary raw material.
There are also a number of steel companies in India like Tata and ArcelorMittal that are either coming up or have established themselves as prominent forces in the world steel scenario
In the recent times a lot of foreign direct investment is being made in the Indian steel industry.
In fact the rate of investment has increased in the last few years and, to a certain extent, this increase has been contributed to by the growth potential of the steel industry of India that is thought of as being impressive in the international steel circle
In the recent years a number of major steel corporations of the world have come flocking to India to avail the benefits of the flourishing steel industry of India.
The number of steel projects in India has increased as well and this implies that the number of companies lining up to participate in these projects would be increasing too
There are certain challenges that are being faced by the Indian steel industry of late.
There are certain issues regarding the condition of the infrastructural facilities available and the skill level of the members of the steel fraternity
The levels of skill of the various technical people associated with the steel industry has been found to be wanting and this has been a result of the inability of the Indian steel industry to attract the best people from the world of engineering and technology.
The state of infrastructure needs to be improved so that the production of steel can be taken to the next level
India has traditionally been regarded as one of the top steel producers of the world.
In 2004 it was ranked as the seventh largest producers of steel in the world, which is testimony to the standing of the Indian steel industry of the world.
India is also supposed to have the best growth potential in the context of steel and is preceded only by China, which is a prominent steel producing and consuming country of the world
Arpit SaxenaHimanshu Swarnkar
Karan PanwarMohit Chaudhry
THANK YOUMBA-ISM