Domestic Steel demand at an all-time high in January

A big boost in domestic steel consumption recording an all-time high in January. The domestic steel consumption in India for the month of January witnessed a steep rise of 9 percent year on a yearly basis to 9.97MT. The rise in imports and a decline in exports emphasizes a strong rebound in the domestic demand.

Domestic crude production for January rose 7 percent y-o-y to 9.98 MT.

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12 World’s Largest Iron ore reserves 2020

Brazil and Australia accounts for the major production of iron ore worldwide. As of 2020, Brazil had reserves of 34 billion metric tons of crude ore whereas Australia has about 50 bilion tons of crude ore.
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