Indian steelmakers produced 7.5mn mt crude steel in July, down by 20.1pc from July 2019, but up 9.5pc from June, according to provisional data. Finished steel production fell by 21.5pc from the prior year month and improved 11.4pc from the prior month as steelmakers ramped up production in line with gradually return of steel demand for auto and construction sectors.
|India’s steel production in July (mn mt)|
|Production||Jul-20||Jul-19||Change YoY||Change MoM|
In July, India’s finished steel exports rose by 128.7pc to 1.37mn mt from the prior July, while imports dropped by 63.1pc to 293,000mt amid a 29.6pc fall in apparent steel consumption.
For the four-month period (April-July), crude steel production fell by 36.1pc to 23.86mn mt and hot metal production declined by 27.9pc to 17.99mn mt from the prior year period. India’s finished production fell by 43.95pc to 35.16mn mt, while pig iron production dropped by 54.04pc to 960,000mt.
In April-July, finished steel exports rose by 140.1pc to 4.64mn mt from the prior year period, while imports dipped by 42.05pc to 1.51mn mt. Apparent steel consumption declined by 48.3pc to 17.22mn mt in the four-month period. Private sector led crude steel production in India by a 81pc share with an output of 19.39mn mt, while public sector steelmakers clocked 19pc share with 4.47mn mt.