Ammi’s plan to build the world’s largest steel mill in India may hit the Southeast Asian steel market

ArcelorMittal, one of the world’s steel giants, will build the world’s largest steel manufacturing plant in Hazira, Gujarat, western India, with the overall project expected to start production in 2029. Some scholars believe that this could lead to a gradual reduction in India’s demand for steel from Southeast Asia. However, some more optimistic market participants believe that given India’s fast-growing steel demand, the new capacity can be absorbed by its domestic market, so Indian buyers’ steel demand for the rest of Asia will not change much.