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India’s Crude Steel Production in August Falls 2.3% YoY - JPC

Steel News - Published on Wed, 11 Sep 2019

Image Source: Financial Express
Platts reported that latest provisional data released late Friday by the Joint Plant Committee showed that India’s crude steel production fell in August to 8.99 million tonnes, down 2.3% from 9.20 million tonnes a year ago. Hot metal production in August reached 6.10 million tonnes, relatively flat from 6.11 million tonnes the year before, while monthly finished steel output was 8.45 million tonnes, up 2.4% from 8.25 million tonnes in August 2018. Apparent steel consumption in August was 8.61 million tonnes, up 1.7% from 8.47 million tonnes the year before. India was a net exporter of finished steel products in August at 983,000 tonnes against imports of 856,000 tonnes. The former was up 37.3%, while the latter gained 27.5%.

India’s crude steel production from April- August 2019 was 45.98 million tonnes, up 2% from 45.09 million tonnes a year ago. During the five-month period, overall hot metal production was 31.19 million tonnes, up 2.9% year on year, while finished steel output hit 43.22 million tonnes, up 5.6% from the year before. Steel consumption totaled 42.60 million tonnes over April to August, about 6.3% higher against the corresponding period of 2018. Overall trade figures for April-August still put India as a net importer at 3.35 million tonnes versus exports at 2.45 million tonnes, up 0.8% and down 7.0%, respectively.

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Posted By : Sanju Moirangthem on Wed, 11 Sep 2019
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