Posted on 10 May 2022
Steel manufacturer ArcelorMittal Nippon Steel (AM/NS) India recorded lower production during January-March compared with a year earlier following planned maintenance.
Its January-March crude steel production fell by 5.2pc from a year earlier to 1.73mn t, while steel shipments were 1.9pc higher to 1.73mn t.
India's finished steel exports rose to a record high in the April 2021-March 2022 fiscal year as higher international prices prompted Indian steel mills to boost shipments. Exports also rose in March with higher demand from Europe following a regional supply crunch because of the Russia-Ukraine conflict.
AM/NS partnered with renewable energy developer Greenko in March to build a 975MW solar and wind power plant. It is now studying an option to develop a second phase to double its installed generation capacity.
The company last month announced plans to set up a cold rolling mill at its Hazira, Gujarat plant due to be commissioned in 2024.
Source:Mysteel Global
