India’s half-yearly steel production during April-September period rose by 5.1 per cent to 52.079 million tonnes (MT) while country’s consumption grew by 4.3 per cent to 42.883 MT in the same period, a Steel Ministry report said.
“Production for sale of total finished steel at 52.079 mt, registered a growth of 5.1 per cent during April-September 2017 over the same period last year… consumption of finished steel in India saw a growth of 4.3 per cent in April-September 2017 (42.883 MT) over the same period last year, under the influence of rising production for sale and imports,” the Ministry’s Joint Plant Committee’s (JPC) report said.
SAIL, RINL, TSL, Essar, JSWL and JSPL together produced 30.44 mt during the first six months of the current fiscal, which was a growth of 9.8 per cent over same period of last year.
However, the report said overall production for sale of total finished steel at 8.814 MT in September was down by 0.2 per cent over August 2017 but was up by 5.6 per cent over corresponding month last year.
“During April-September 2017, crude steel production was 49.764 MT, a growth of 4.5 per cent over same period of last year,” the report said.
According to it, the consumption at 7.449 MT last month was up by 4 per cent over September 2016.
However, India’s total import of finished steel at 4.318 MT in April-September period was up 20.1 per cent over the same period last year. Imports in September was 0.81 MT, up 31.9 per cent over year-ago month.
The report also said India’s steel export grew by 60.1 per cent to 4.852 MT in the first six months of the current fiscal over the same period last year.
“Overall exports in September 2017, at 1.119 MT, was up by 20.8 per cent over August 2017 and was up by 70.6 per cent over September 2016,” it added.