Steel output up 10% at 29 mt in April-Aug

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Finished steel output grew by a tenth to 29 million tonnes (mt) during the April-August of the current financial year as against 26 mt in corresponding last period.

Steel consumption for the period grew by 1.3 per cent to 28 mt, according to provisional estimates by the Steel Ministry.

Consumption in the first five months of current fiscal has been largely subdued due to the lower demand from sectors such as construction, automobiles and consumer durables.

Output of main producers SAIL, RINL and Tata Steel Ltd grew 3.6 per cent to 7.4 mt (7.2 mt). SAIL's output grew 2.5 per cent at 4.1 m t, while that of RINL declined by 5.3 per cent to 1.1 m t. Tata Steel topped the list of main producers with a 10.7 per cent growth in output at 2.26 m t.

However, output of major producers including JSW Steel, Essar Steel and JSPL grew 9.7 per cent at 8.1 m t (7.4 m t). Output of other producers including the smaller firms grew 9.4 per cent to 25.5 m t.

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Steel Ministry officials, who had earlier predicted a 10 per cent growth in demand, are hopeful of a pick up in demand post monsoon.

Exports for the period grew 56.7 per cent to 1.82 mt (1.16 mt in corresponding period last year). However, imports fell by 45 per cent to 2.27 mt as against 4.12 mt.

Production of carbon or non-alloy steel grew 9.1 per cent to 27 mt (24.7 mt). Alloy steel output grew 21.5 per cent to 2 mt (1.6 mt).

Pig iron production grew by 1.4 per cent to 2.4 m t in the first five months of the current fiscal, while consumption rose 1.7 per cent to 2.2 m t.

 

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