Hot-rolled steel out put up

The Indian Steel Alliance (ISA) said the production of hot-rolled steel by its member companies jumped 9 per cent to 13.15 million tonnes during 2003-04, from 12.07 million tonnes in the previous year.

However, exports grew only 2 per cent year-on-year to 2.89 million tonnes in 2003-04, from 2.82 million tonnes. Domestic sales were up 10 per cent at 10.29 million tonnes during 2003-04, from 9.34 million tonnes a year earlier.

Moosa Raza, president, ISA said, "It's time we separate facts from fiction. Share of exports in total sales was down to 13 per cent in 2003-04, from 14 per cent in 2003-04. Exports have grown only 2 per cent during 2003-04, compared to 62 per cent in 2002-03."

He said allegations by various user groups regarding ISA member companies resorting to exports and creating artificial lack of supply in the domestic market were baseless.

"Domestic industry has always been a priority for us and ISA has never exported at the cost of the domestic industry," Raza added.

The ISA comprises SAIL, Tata Steel, Essar Steel, Jindal Vijaynagar Steel Ltd and Ispat Industries.