Heavy mettle
Finished steel production was up by 7.13 per cent during April-October 1999. Even more significant is the rate of growth witnessed during this period. Also, even if the industry maintains the current level of production it will end the year with a smart increase in production. The growth is visible in key product segments though some are growing at a faster rate.
According to the Monthly Review, CMIE, December 1999, the first seven months of 1998-99 have seen finished steel production increase by 7.1 per cent against a 4.9 per cent increase in the previous corresponding period. Long products like bars and rods have not seen a major upturn with production increasing by only 4.7 per cent to 46.54 lakh tonne. Nevertheless, the size of this segment means that even small doses of growth are quite significant.
If overall sales grew at a higher rate, it is owing to the flat steel segment. There has been a substantial growth in the flat products segment, which is encouraging, as much of t