India's steel output grew 8.37% to 33.63 MT in April-June, and the upward trend is expected to continue: SteelMint
- IBEF
- July 12, 2023
According to SteelMint, India's crude steel output climbed by 8.37% during April-June to 33.63 million tonnes (MT), and the trend is projected to continue in the current quarter as well. As per the research company, steel mills would increase production and ramp up capacity to meet the rising demand. India produced 31.03 MT of steel during the April-June quarter of the previous fiscal year 2022-23.
Moreover, the production of finished steel in India rose 11.66% in the April-June quarter to 32.41 MT, from 29.03 MT in the same quarter a year ago.
From 27.50 MT a year ago, domestic steel consumption increased 10.16% to 30.29 MT.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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