According to the Indian Iron and Steel Association's forecast, Indian steel demand will increase by 7.1% and 7.2% respectively in 2019 and 2020, and India's steel consumption may exceed 100 million tons in 2019. In terms of the fiscal year, India's steel demand growth in the 2020 fiscal year and fiscal year 2021 will reach 7.2%. Such large-scale steel consumption demand is full of temptation for steel companies in other countries.

As the world's second-largest developing country, India's "identity conversion" in the international steel trade market will have a profound impact on the future adjustment of Asia and the global trade pattern. World Steel Association Director Edwin Bason said recently that global steel demand is expected to maintain steady growth at a compound annual growth rate of 1% per annum. In his view, global steel demand will shift more to developing countries. It is expected to grow slightly on the basis of the current 1.7 billion tons per year and will grow steadily to 2 billion tons by 2040.

In my opinion, if India continues to maintain the status of net steel importing countries in the later period, the growth of international steel demand is likely to further accelerate.

In short, as far as the current development is concerned, India has once again become a net importer of steel, which is the result of multiple factors superposition and multi-party game. How long this situation will last is still difficult to say. After all, it is not ruled out that India will reverse the steel imports through various means such as tariffs to protect the domestic steel industry.

The excitement of the "Indian story" in the international steel trade has only just begun, and how we will develop next, let us wait and see.