India’s crude steel production fell by 54.3pc to 8.457mn mt in April -May from the prior-year period. The production of hot metal declined by 32.7pc to 8.31mn mt from April-May 2019 and that of finished steel plummeted by 71pc to 5.15mn mt.
The COVID-19 outbreak in the country distressed India’s economy and hurt steel production. Since early May, the Indian government has relaxed lockdown restrictions in phases. Steel production, however, could not return to its usual level as a mass exodus of workers left mills struggling with limited workforce.
Around 80pc of the total crude steel or 6.77mn mt was produced by Steel Authority of India(Sail), Rashtriya Ispat Nigam (RINL), TSL Group, ArcelorMittal and Nippon JV (AM/NS) and Jindal Power and Steel (JSPL). Output by these steelmakers together also registered a 40pc fall.
|Crude steel production|
|(In ‘000 mt)||May-20||May-19||Apr-20|
|AM/NS, JSWL and JSPL||1,852||2,566||1,233|