India: Steel production rises 4.5%, consumption 8.4% between April and December

India's finished steel productionrose by 4.5 per cent to 97.358 million tonnes (mt) while the country's consumption grew by 8.4 per cent to 71.862 mt in the same period, a Steel Ministry's report said, according to the newspaper "Business standard".

However, India's finished steel export during the first nine months of 2018-19, was down by 38.5 per cent to 4.675 mt over the same period of 2017-18 and imports during the period under review stood at 5.908 mt, down by 3.1 per cent over corresponding months of previous fiscal.


"Gross production of total finished steel was at 97.358 mt, and grew by 4.5 per cent during April-December 2018 over the same period of last year," the ministry's Joint Plant Committee's (JPC) report said.

It also said, "India's consumption of total finished steel saw a growth of 8.4 per cent in April-December 2018 (71.862 mt) over same period of last year, under the influence of a rising indigenous supply side.

According to it, the production of total finished steel was at 11.422 mt in December 2018, up by 4.3 per cent over corresponding month of previous year and it was up by 4.9 per cent over November 2018.

Consumption stood at 8.339 mt in December, up by 9.4 per cent over year-ago month and was also up by 9.2 per cent over previous month (November 2018), the report said.

Imports in the last month only, stood at 0.548 mt, down by 2.5 per cent over corresponding month of previous year and was up by 6 per cent over November 2018.

"Exports stood at 0.367 mt in December 2018, down by 61.9 per cent over December 2017 and was up by 7.9 per cent over November 2018," it added.

Source: Business Standard, photo: fotolia