India produced 16.391 million tonne (MT) of crude steel in the first two months of the current fiscal, up 4.5 per cent year-on-year.
It had produced 15.683 MT in the same period of last fiscal.Output in May was 8.163 MT, up 2.2 per cent, from 7.989 MT a year ago, as per the latest Joint Plant Committee (JPC) report.
However, on month-on-month basis, it was down 0.8 per cent over April, when the country had produced 8.228 MT. SAIL, RINL, TSL, Essar, JSWL and JSPL together produced 9.292 MT during April-May 2017, which was a growth of 8 per cent over same period of last year, it said, adding the rest 7.099 MT came from the other producers.
Production for sale of total finished steel during the two-month stood rose 6.7 per cent to 17.546 MT from 16.248 MT in same period of last year.
In May, the country registered 4.4 per cent rise its production for sale of total finished steel. The export of total finished steel was 69 per cent up at 0.641 MT in May, as against 0.379 MT in same month last year.
The country remained a net exporter of total finished steel in May as well as the first two month period of 2017-18.
India is the third largest producer of crude steel after China and Japan.
Image source: The Dollar Business