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India’s steel production, import, export an consumption estimates for 2018-19 - Mr Sushim Banerjee

Steel News - Published on Thu, 14 Mar 2019

Image Source: SteelGuru
Mr Sushim Banerjee DG of INSDAG in his personal capacity wrote in Financial Express that India’s crude steel production at 97.15 million tonne in the first 11 months of the current fiscal has attained growth of 3.8% over last year. At this rate, it is likely to be 108-110 million tonne in FY19. The imports of total steel, including semis at 7.2 million tonne during the period, which is a 2% increase as compared to the previous year, is likely to end the year with 8.6-8.8 million tonne. The export of total steel at 7.8 million tonne during the period, a fall of 35%, would reach 8.5-8.6 million tonne by the end of the current year. This makes the finished steel consumption at 88.12 million tonne in the first 11 months of the current year that grew 7.4% as against the previous year to reach 98-100 million tonne in FY19.

An annual review of India’s steel production, consumption and foreign trade should also include an analysis of the role of the major and small and medium enterprise sector. In terms of the process route, the BF-BOF route had a share of 46% in FY18 and the balance 54% is held by the electric arc EAF/IF route, with IF at 28.3%.

The ongoing capacity augmentation in the BF-BOF route by major steel producers is likely to make some changes in the relative share of process routes and though some indications have been provided in National Steel Policy 2017, it would be an interesting analysis how the scenario would actually be emerging in the coming years based on the comparative suitability/viability in terms of costs, availability of raw materials, power, scrap and environment regulations.

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Posted By : Rabi Wangkhem on Thu, 14 Mar 2019
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