Indian Crude Steel Production in Apr-Jan Down by 10% YoY
India Steel ProductionMAN

Indian Crude Steel Production in Apr-Jan Down by 10% YoY

According to media reports, India’s crude steel production in January 2021 rose by 7% YoY to 9.98 million tonne while steel consumption rose by 9% YoY

According to media reports, India’s crude steel production in January 2021 rose by 7% YoY to 9.98 million tonne while steel consumption rose by 9% YoY to 9.97 million tonnes, the highest ever monthly consumption. However, during the April-January 2021 period of the current fiscal, production and consumption of steel was adversely affected by the Covid-19 pandemic. The cumulative production of crude steel at 82.71 million tonne and finished steel at 76.04 million tonne were lower by 9.7% YoY and 12.4% YoY while consumption at 74.58 million tonne was lower by 12.7% YoY

India’s steel export in January 2021 was lower by 24.6% YoY while import increased by 22.0% YoY. During the current fiscal till January 2021, export of finished steel from India was 8.84 million tonne, up by 22.5%, while import at 3.79 million tonne have declined by 36.7% YoY. Thus India was net exporter of finished steel during April-January 2020-21 with net positive trade surplus of 5.0 million tonne.

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