India’s small steelmakers slashing output amid weak demand

Smaller Indian steel firms, constituting around 45% of national capacity, are cutting production by up to one third because of weak demand and falling prices. Inventory builds, cost pressure, and sluggish construction activity have led to strain across the sector. Analysts note that unless infrastructure spending picks up, these cuts may persist. The downturn in steel reflects broader stress in capital goods and commodity cycles, with potential ripple effects across allied industries.