India’s crude steel output falls 0.4% to 8.77 MT in January



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The country’s crude steel production declined marginally by 0.4 per cent to 8.77 million tonne (MT) in January 2018, according to official data.

India had produced 8.81 MT of crude steel in January 2017. The output in January this year was lower 0.2 per cent month-on-month.

However, the total output of crude steel during April- January 2017-18 at 84.42 MT shows a growth of 4.2 per cent as compared to 81.08 MT produced during the same period a year ago.

During April-January 2017-18, production for sale of total finished steel stood at 88.59 MT, up 5.3 per from the year-ago period, it said.

The overall hot metal production in January 2018 (5.74 MT) was up 6.2 per cent year-on-year and higher 0.6 per cent month-on-month.

During April-January 2017-18, hot metal production was 55.21 MT, a growth of 2.1 per cent over the same period of last year.

India is the third largest producer of crude steel in the world after China and Japan.

In 2017, India’s crude steel production rose nearly 6 per cent to hit an all-time high of 101.28 MT.

“Between January 1, 2017 and December 31, India crossed 100 MT-mark and produced 101 MT steel,” Union Minister Chaudhary Birender Singh had said.

The country is now aiming to grab the second spot, overtaking Japan.

Source: PTI