BRIC countries’ iron and steel industry to see healthy growth over next four years: report

The iron and steel industry in Brazil, Russia, India and China (BRIC) is expected to see a healthy growth over the next four years, according a new report by the UK based research firm BRICdata.

The BRIC countries play a dominant role in the global iron and steel industry in terms of reserves, production and consumption.

Over the forecast period (2012-2016), the iron ore production in Brazil is anticipated to increase at a CAGR of 14.06% to reach 765.8 million tons by 2016. Apparent steel consumption totaled 31 million metric tons in 2011 and is expected to grow at a CAGR of 9.06% to reach 48.1 million metric tons by 2016.

During the review period, crude steel production posted a CAGR of 1.19% and is expected to grow at a CAGR of 6.76% over the forecast period to reach 48.8 million metric tons by 2016.

Over the forecast period, the iron ore production in Russia is expected to increase at a CAGR of 8.31% to reach 157.7 million tons in 2016.

Russian crude steel production is expected to increase at a CAGR of 5.75% to reach 87.4 million metric tons by 2016, while apparent steel consumption is expected to grow at a CAGR of 7.98% to reach 69.1 million metric tons by 2016.

Over the forecast period, India’s iron ore production is projected to register a CAGR of 8.95% to reach 350 million tons by 2016.

During the review period, India’s crude steel production grew at a CAGR of 5.47% and is expected to grow at a CAGR of 8.35% over the forecast period. Consumption is projected to reach 100.6 million metric tons by 2016.

During the review period, China’s iron ore production grew at a CAGR of 7.04% and is forecast to grow at a CAGR of 8.01% to reach 1.3 billion tons by 2016.

China’s crude steel production recorded a CAGR of 8.96% during the review period and is expected to grow at a CAGR of 5.59% over the forecast period.

Over the forecast period, the country’s apparent steel consumption is expected to grow at a CAGR of 7.18% to reach 899.5 million metric tons by 2016, the report said.

The full report, ‘Iron and Steel Industry in the BRIC Countries – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016’ is available from BRICdata. Click here for more details.