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Steel output rises 4.4%, consumption up 8.4% in Q1 in FY19
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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.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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