Posted on 27 Jul 2021
Indian crude steel production rose 61% on-year to 27.8 million tonnes in the fiscal first quarter ended through June 2021 against 17.26mt in last year. The nation produced 9.36mt crude steel in June 2021.
State-run SAIL production rose 52.4% on-year to 3.77mt in Q1 2022, the company produced 4.13mt hot metal during the period. Sales increased 65.5% on-year to 3.77mt during the period Kallanish notes.
Tata steel was by far the largest crude steel producer in Q1 produced 4.62mt, witnessed a growth of 55% on-year against 2.99mt last year. Other major steel producers during the period were JSW steel (4.1mt) and JSPL (2.01mt).
“The production and consumption of steel during the first quarter of the fiscal year 2021-22 (Q1 FY22) registered significant improvement over their respective levels in Q1 FY21, which saw a significant contraction due to Covid-19 lockdown with the production of crude steel, finished steel and consumption of steel increasing by 60.6%, 87.7% and 103.1%, respectively," reports ministry of steel.
The central public sector enterprises (CPSEs) under the ministry of steel achieved a cap ex sum of INR 1247.50 crore ($167.71 million) in Q1. The progress of cap ex was reviewed by the minister of steel and subsequently by the finance minister.
Steel production capacity in India stands at 143.91mt, which includes the private sector and public sector capacity of 117.98mt and 25.93mt respectively. The nation’s crude steel production in H1 2022 increased 31% on-year to 57.93mt against 44.1mt last year.
Source:Kallanish
