Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

India’s crude steel and finished steel output fell by 20pc in April compared to the previous month, after the second wave of COVID-19 infections forced the country to go into a lockdown in that period according to the Ministry of Steel. 


The country’s crude steel production rose by 141.8pc in April compared to the same month last year but fell by 20.6pc from March. Finished steel output in April surged by 346.3pc from the same month in 2020 and was down by 23.2pc from the previous month while the product’s consumption increased by 516.8pc in April on an annual basis but declined by 25.7pc against March. 


India’s total steel closing stock dropped by 41.1pc to 8.4mn mt in April from the same month last year and fell by 3.5pc on a monthly basis, the Ministry noted.


India’s export of finished steel increased by 121.6pc in April while imports fell by 10.7pc on an annual basis. However, its export on a monthly basis fell by 26.4pc in April and imports declined by 27.4pc. 


The Ministry reported that in April, SAIL’s production of hot metal climbed by 59pc to 1.371mn mt, crude steel output was up by 54pc to 1.230mn mt, and salable steel production surged by 117pc to 1.256mn mt. Steel sales in April stood at 1.202mn mt. NMDC’s iron ore production increased by 73.9pc to 3.13mn mt while its sales grew by 123.9pc to 3.09mn mt in April on an annual basis. 


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