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Indian Domestic Steel Consumption in Apr-Jul 2020 Shrinks by 42% YoY

Steel News - Published on Thu, 17 Sep 2020

Image Source: Coronavirus COVID19 Steel Demand
India’s Steel Minister Mr Dharmendra Pradhan in informed Rajya Sabha that India’s steel consumption in first 4 months of 2020-21 FY declined by 42% YoY. According to worldsteel, India’s apparent steel consumption in 2019 was 101 million tonnes ie about 8.4 million tonne per month. Assuming that in balance 8 months of 2020-21 the steel consumption declines by about 10%, we could be looking at annual consumption of about 80 million tonne, which translates to per capita consumption for 2020-21 of about 60 kg, as against 74.3 kg is 2019, putting Indian steel sector back by 5 years. Please note that this is just an estimate and actual situation could vary as COVID19 impact lessens or worsens

Total Finished Steel (non-alloy + alloy/stainless) consumption
Month20192020YoY
April7.3331.092-85%
May8.8504.720-47%
June8.5896.234-27%
July8.5737.405-14%
Apr-Jul33.34519.451-42%
 

In million tonnes

Source :

Posted By : Yogender Pancholi on Thu, 17 Sep 2020
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