India’s Apr-Sep crude steel output rises 6% on year to 52 mil mt

15-Oct-2018

India produced 52.28 million mt of crude steel over April-September, up 6% from the same period of 2017, amid a rise in domestic demand, latest provisional data from the country’s Joint Plant Committee showed.

Hot metal production rose 8.1% year on year to 35.44 million mt over the six-month period, while pig iron production rose 8.8% to 2.97 million mt, the data showed.

Finished steel production totaled 63.76 million mt over April-September, up 4% year on year.

India’s domestic demand for steel is forecast to grow 10-11%/year over the next three years as construction activity ramps up, the JPC said.

While steel production increased on all fronts, India’s steel trading activity showed signs of contraction, although the country remained a net importer of finished steel.

Imports fell 7.4% on year to 4 million mt in the six-month period, while exports fell 35.2% to 3.14 million mt, the JPC data showed.

State-run JPC is the sole body in India authorized to collect data on the domestic steel and iron industry.

Source: S&P GLOBAL PLATTS