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India’s Finished Steel Production Up 4.1 Percent in FY 2013-14

India’s finished steel consumption totaled 73.93 million mt in the whole of the last Indian fiscal year (started April 1, 2013-ended March 31, 2014), with a 0.6 percent year-on-year increase, according to provisional estimates released by the Joint Plant Committee (JPC) which is part of India’s Ministry of Steel.

According to the data, the country’s finished steel production rose by 4.1 percent year on year to 85 million mt in the fiscal year in question. Among the main producers, state-owned steel producer SAIL recorded a rise of 5.8 percent year on year in finished steel production to 10.68 million mt, while the finished steel output of RINL rose by 3.4 percent to 2.81 million mt and Tata Steel’s finished steel output increased by 18 percent to 7.58 million mt, both year on year.

On the other hand, in April this year (the first month of the current Indian fiscal year), India’s finished steel consumption increased by 3.4 percent to 5.8 million mt, while finished steel production totaled 7.01 million mt, up 3.3 percent, both on year-on-year basis. SAIL produced 830,000 mt of finished steel, TSL produced 638,000 mt and RINL produced 212,000 mt in the given month, up 0.7 percent, up 5.5 percent and down 11.3 percent year on year, respectively.

Source: SteelOrbis

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