According a new report by the UK based research firm BRICdata, the iron and steel industry in Brazil, Russia, India and China (BRIC) is expected to see a healthy growth over the next four years.
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 to 2016), the iron ore production in Brazil is anticipated to increase at a CAGR of 14.06% to reach 765.8 million tonnes by 2016. Apparent steel consumption totaled 31 million tonnes in 2011 and is expected to grow at a CAGR of 9.06% to reach 48.1 million tonnes 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 tonnes 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 tonnes in 2016.
Russian crude steel production is expected to increase at a CAGR of 5.75% to reach 87.4 million tonnes by 2016, while apparent steel consumption is expected to grow at a CAGR of 7.98% to reach 69.1 million tonnes by 2016.
Over the forecast period, India's iron ore production is projected to register a CAGR of 8.95% to reach 350 million tonnes 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 tonnes 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 tonnes 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 tonnes by 2016.
( Source: steelguru.com)