SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 23 Jul, 2018  

Steel.9.Thmb.jpg Steel output rises 4.4%, consumption up 8.4% in Q1 in FY19

Steel.9.2.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 23 Jul, 2018
India's finished steel production during the first quarter of the current financial year (FY 19) rose by 4.4 per cent to 26.72 million tonnes (mt) while the country's consumption grew by 8.4 per cent to 23.422 mt in the same period, a steel ministry report said.

During the first three months of 2018-19, India's finished steel exports were down by 33.7 per cent to 1.351 mt over same period of 2017-18 and imports during the same period stood at 1.893 mt, up by 10.9 per cent over the corresponding months of previous fiscal.

"Production for sale of total finished steel at 26.72 mt, registered a growth of 4.4 per cent during April-June 2018 over the same period of last year," the Ministry's Joint Plant Committee's (JPC) report said.

"India's consumption of total finished steel saw a growth of 8.4 per cent in April-June 2018 (to 23.422 mt) over the same period of last year, under the influence of rising supply side as both production for sale and imports increased in April-June 2018 over the same period last year," it added.

Steel Authority of India (SAIL), Rashtriya Ispat Nigam Ltd (RINL), Tata Steel Ltd (TSL), Essar, JSW Ltd and Jindal Steel and Power Ltd (JSPL) together produced 15.669 mt of steel for sale during the first quarter of the current fiscal, which was a growth of 4.2 per cent over the same period of last year.

The report also said that the production for sale of total finished steel was at 8.87 mt in June 2018, up by 4.4 per cent over corresponding month last year, but it was down by 2.5 per cent over May 2018.

"During April-June 2018, crude steel production was 26.086 mt, a growth of 6.2 per cent over same period of last year," the report said.

According to it, the consumption stood at 8.097 mt in the last month (June 2018), up by 8.3 per cent over the same month of the previous financial year.

Imports, in June only, were at 0.676 mt, up by 4.8 per cent over year-ago month.

"Exports stood at 0.364 mt in June 2018, down by 43.9 per cent over June 2017 and was down by 15.2 per cent over May 2018," the report said.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter