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Indian steel usage grows by just 0.5pct in Apr-May

Reuters reported that India’s steel consumption grew marginally by 0.5% during the first 2 months of the fiscal 2015 to 12.623 million tonne over the same period last year.

According to the Joint Plant Committee, a unit of the Steel Ministry, India had consumed 12.563 million tonne steel during the April-May period of FY 2013 to 2014.

An official of a private steel maker said that “Consumption in April and May is less because the government spending on infrastructure has been very less in these months. End-use industries are also consuming less steel.”

Source – Reuters

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