Latest news on China Steelmaking Sponge Iron markets

India's sponge iron production expected to reach around 55 mnt in FY'25

Crude steel production to grow over 5% y-o-y in FY'25. Sponge iron capacity to touch 70 mnt by FY'30. DRI exports by India may reach 1.4 mnt in FY'25.

India's sponge iron production rises 17% y-o-y in CY'23

Indian crude steel production up 11%, where as IF-EAF route registered 13% growth. Domestic scrap generation affected due to GST crackdown. Sponge iron exports rise over 30% y-o-y.

India's sponge iron production rises 12% in FY23

Higher crude steel, pellet output boost production. Exports may offer additional support going forward. Further capacity additions under way.