Domestic steel consumption likely to see 9-10% growth in FY25: ICRA

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Domestic steel consumption likely to see 9-10% growth in FY25: ICRA - Business Standard

Quick Summary:

Domestic steel consumption is likely to witness 9-10 per cent growth this financial year, rating agency ICRA said on Thursday.

"ICRA expects the industry to witness capacity utilisation at a decadal high of 88 per cent in spite of an all-time-high capacity addition of 15.6 MTPA (million tonnes per annum) in FY2025 as well as the surge in imports," the rating agency said.

"ICRA projects the domestic steel consumption growth at a healthy 9-10 per cent in FY2025," the rating agency said in a statement.