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Steel production jumps 5.1% to 69.604 MT in April-November

27 Dec 2017 Evaluate

India’s production of finished steel rose by 5.1% and stood at 69.604 million tonnes (MT) during April - November period. The overall production for sale of total finished steel stood at 8.342 MT in November only, down by 9.7% over October 2017 but grew by 6.4% over the corresponding month last year. The Steel Ministry’s Joint Parliamentary Committee (JPC) report said that during April-November 2017, crude steel production was 66.70 MT, a growth of 4.5% over same period last year.

The country’s consumption of total finished steel saw a growth of 4.2% in April-November 2017 period to 56.788 MT over the same period last year, under the influence of rising production for sale and imports. India’s import of total finished steel stood at 5.534 MT in April-November was up by 16.9% over the same period last year and imports in November was at 0.614 MT.

India’s total finished steel exports grew by 57.1% to 6.639 MT in the first eight months of the current fiscal compared with same period last year. The overall exports in November 2017, stood at 1.012 MT, was up by 29.9% over October 2017 and up by 53.6% over November 2016.

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