Indian crude steel production stood at 8.995 million tonnes (MT) in January 2019, down by 3.84% from its previous year same period's 9.355 MT. Recently, World Steel Association (worldsteel) announced that India has replaced Japan as the world's second-largest steel producing country. India's crude steel production in 2018 was at 106.5 MT, while as Japan produced 104.3 MT in 2018, as per report.
In January, state-run Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) together with private players JSW Steel, Tata Steel, Jindal Steel and Power (JSPL) and Essar Steel produced 5.486 MT of the crude metal.
In January, the production of hot metal stood at 6.194 MT, 3.3% higher compared to 5.999 MT in the same month last year. The country's pig iron output fell by 3% to 0.526 MT in January this year, as against 0.542 MT in the same period previous year. A national steel policy has already been approved by the Cabinet, with a target of 300 MT crude steel production by 2030 with an investment of Rs 10 lakh crore.
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