According to initial estimates by India’s Ministry of Steel’s Joint Plant Committee, India’s crude steel output in November 2021 was 9.64 million tonne, flat YoY as compared to 9.61 million tonne in November 2020 but down 2% MoM from 9.61 million tonne in October 2021. With 106.39 million tonne crude steel production in January-November 2021, up 18% YoY, India seems to be on track to hit 115.00 million tonne mark in 2021, up 15% YoY from 100.31 million tonne in 2020.As per JPC estimates, India’s steel consumption in November 2021 was down 8% YoY to 8.47 million tonne from 9.21 million tonne in November 2020 and down from 8.75 million tonne in October 2021.India’s steel exports in November 2021 rose 20% YoY to 0.72 million tonne, from 0.60 million tonne in November 2020 but down 32% MoM from 1.06 million tonne in October 2021India’s steel imports fell 11% YoY to 0.31 million tonne and 18% MoM from 0.38 million tonne in October 2021.Indian Steel Sector Performance – April-November 2021 (Esimate)Crude Steel Production - 76.45 million tonne, up 21% YoYImport - 3.06 million tonne, up 12% YoYExport - 9.53 million tonne, up 24% YoYConsumption - 66.37 million tonne, up 20% YoY
According to initial estimates by India’s Ministry of Steel’s Joint Plant Committee, India’s crude steel output in November 2021 was 9.64 million tonne, flat YoY as compared to 9.61 million tonne in November 2020 but down 2% MoM from 9.61 million tonne in October 2021. With 106.39 million tonne crude steel production in January-November 2021, up 18% YoY, India seems to be on track to hit 115.00 million tonne mark in 2021, up 15% YoY from 100.31 million tonne in 2020.As per JPC estimates, India’s steel consumption in November 2021 was down 8% YoY to 8.47 million tonne from 9.21 million tonne in November 2020 and down from 8.75 million tonne in October 2021.India’s steel exports in November 2021 rose 20% YoY to 0.72 million tonne, from 0.60 million tonne in November 2020 but down 32% MoM from 1.06 million tonne in October 2021India’s steel imports fell 11% YoY to 0.31 million tonne and 18% MoM from 0.38 million tonne in October 2021.Indian Steel Sector Performance – April-November 2021 (Esimate)Crude Steel Production - 76.45 million tonne, up 21% YoYImport - 3.06 million tonne, up 12% YoYExport - 9.53 million tonne, up 24% YoYConsumption - 66.37 million tonne, up 20% YoY
