Williamstown, MA -- (SBWIRE) -- 04/02/2012 -- The BRIC (Brazil, Russia, India and China) countries play a dominant role in the global iron and steel industry in terms of reserves, production and consumption. The iron and steel industry in the BRIC countries posted a healthy growth during the review period and the trend is expected to continue over the forecast period.

Brazilian iron ore production is projected to grow at a CAGR of 14.06% over the forecast period (2012-2016) to reach 765.8 million tons by 2016. Crude steel production posted a CAGR of 1.19% during the review period and is expected to grow at a CAGR of 6.76% over the forecast period to reach 48.8 million metric tons by 2016. Apparent steel consumption totaled 31 million metric tons in 2011 and is expected to grow at a CAGR of 9.06% over the forecast period to reach 48.1 million metric tons by 2016.

Russian iron ore production is projected to grow at a CAGR of 8.31% over the forecast period, to reach 157.7 million tons in 2016. The growth will be primarily driven by the rising demand from the domestic steel industry and growing exports to China. Crude steel production is expected to grow at a CAGR of 5.75% over the forecast period to reach 87.4 million metric tons by 2016. Apparent steel consumption is expected to grow at a CAGR of 7.98% over the forecast period to reach 69.1 million metric tons by 2016.

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India's iron ore production is expected to register a CAGR of 8.95% over the forecast period to reach 350 million tons by 2016. Crude steel production grew at a CAGR of 5.47% during the review period and is expected to grow at a CAGR of 8.35% over the forecast period. Consumption is projected to reach 100.6 million metric tons by 2016.

Chinese iron ore production grew at a CAGR of 7.04% during the review period and is forecast to grow at a CAGR of 8.01% over the forecast period to reach 1.3 billion tons by 2016. Crude steel production posted a CAGR of 8.96% during the review period and is expected to grow at a CAGR of 5.59% over the forecast period. Apparent steel consumption is expected to grow at a CAGR of 7.18% over the forecast period to reach 899.5 million metric tons by 2016.

Key Highlights

- The BRIC countries dominate the global iron and steel industry.
- Brazil is the third-largest producer of iron ore globally and the ninth-largest producer of steel worldwide.
- Russia is one of the leading producers of iron ore and accounted for 4.2% of global production in 2011. It is the fourth-largest producer of steel in the world.
- India is one of the leading producers of iron ore in the world accounting for 11% of global production in 2011. It is the fifth-largest producer of steel in the world.
- China is the largest producer of iron ore and steel in the world.

Companies Mentioned in this Report: Vale, CSN, MMX, Usiminas (J. Mendes), Mhag, Arcelor Mittal Serra Azul, Mineracao Corumbaense, V&M Mineracao, Anglo Ferrous and Ferrous Resources, Severstal, Metalloinvest, Evrazholding, Mechel, Novolipetsk (NLMK), Magnitogorsk Iron and Steel Works (MMK), National Mineral Development Corporation (NMDC), Kudremukh Iron Ore Company, Steel Authority of India Limited, Orissa Mining Corporation, Jindal Group, Tata Steel Limited, Hebei Steel, Baosteel, Anben Steel, Wuhan Steel, Jiangsu Shagang, Shougang, Shandong Steel, Hebei New Wu'an Steel, Bohai Steel

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