 "Steel consumption up 3.4% to 5.8 million tonnes in April")
India's steel consumption grew by 3.4% to 5.8 million tonnes in April 2014 over the same month a year ago.
It, however, witnessed a sharp 12.9% decline over the preceding month.
"India's consumption of total finished steel saw a growth of 3.4% in April 2014 over April 2013 and decline by 12.9% over March 2014," Joint Plant Committee (JPC), a unit of the Steel Ministry, said today.
Independent Steel Producers (ISPs) such as SAIL, RINL, Tata Steel, Essar Steel, JSW and JSPL together produced 3.7 million tonnes in April, while the remaining came from minor producers.
"Compared to March 2014, overall crude steel production declined by 5.6% in April 2014, led by steep decline of 8.9% in case of ISP producers and 1.3% decline in case of mini and other producers," JPC said.
Imports spurt 14.1% to 0.494 million tonnes, while exports saw an increase by 13% to 0.461 million tonnes during the month.
India consumed 73.9 million tonnes of finished steel during the last fiscal, clocking just a 0.6% growth over the previous fiscal, impacted primarily by the slowdown in the domestic economy and a sharp decline in imports.
The production of crude steel increased by 3.8% to 81.3 million tonnes in 2013-14.
It, however, witnessed a sharp 12.9% decline over the preceding month.
"India's consumption of total finished steel saw a growth of 3.4% in April 2014 over April 2013 and decline by 12.9% over March 2014," Joint Plant Committee (JPC), a unit of the Steel Ministry, said today.
More From This Section
Production of crude steel grew by 2.7% to 6.8 million tonnes during the month. India is the world's fourth largest steel producer.
Independent Steel Producers (ISPs) such as SAIL, RINL, Tata Steel, Essar Steel, JSW and JSPL together produced 3.7 million tonnes in April, while the remaining came from minor producers.
"Compared to March 2014, overall crude steel production declined by 5.6% in April 2014, led by steep decline of 8.9% in case of ISP producers and 1.3% decline in case of mini and other producers," JPC said.
Imports spurt 14.1% to 0.494 million tonnes, while exports saw an increase by 13% to 0.461 million tonnes during the month.
India consumed 73.9 million tonnes of finished steel during the last fiscal, clocking just a 0.6% growth over the previous fiscal, impacted primarily by the slowdown in the domestic economy and a sharp decline in imports.
The production of crude steel increased by 3.8% to 81.3 million tonnes in 2013-14.