Indian Steel Consumption Picks up – Grows by 4.6%, Exports...

    Indian Steel Consumption Picks up – Grows by 4.6%, Exports up 66%

    Steel sector now aims to be a major driver of the Indian economy
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    Indian Steel Consumption

    Indian steel consumption grew by 4.6 per cent while the country’s steel exports jumped by nearly 66 per cent. In the April-June period it grew  nearly to 21 million tonne in the first quarter of the current fiscal over the same period in 2016 , a Ministry report said.

    “India’s consumption of total finished steel was at 20.999 mt (million tonne) over same period of last year, under the influence of a rising production for sale,” the report said.

    The Ministry’s study also pointed out overall consumption at 7.204 mt in June was down by four per cent over the previous month (May 2017) . It was up by 5.3 per cent over corresponding month (June 2016) last year.

    “Export of total finished steel was up by 65.9 per cent in April-June 2017 at 1.387 mt over same period of last year. Overall exports in June 2017 at 0.648 mt was up by 0.9 per cent over May 2017 but was up by 20.2 per cent over June 2016,” said the report of Joint Plant Committee.

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