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Crude steel output grows 5.2% in May

Crude steel output grows 5.2% in May

New Delhi: India's crude steel output grew 5.2 per cent to 9.235 million tonnes (MT) during May 2019, according to official data. The country had produced 8.779 MT crude steel during same month in 2018, a steel ministry report said.

During April-May 2019-20, the production stood at 18.020 MT, up 3.4 per cent from 17.432 MT in the corresponding period of the previous fiscal. Production of finished steel in May rose 1.6 per cent to 10.848 MT from 10.674 MT in the year ago month.

During April-May, the output of finished steel at 21.371 MT was 1 per cent higher than 21.156 MT in same period last year. The consumption of finished steel in May rose by 6.6 per cent to 8.780 MT from 8.240 MT in May 2018.

The consumption in the first two months of the ongoing fiscal was at 16.286 MT, 6.5 per cent higher as compared to 15.286 MT in the same period of the preceding fiscal. During May, both exports and imports of finished steel recorded a fall. Exports in May 2019 declined by 28.5 per cent to 0.318 MT from 0.445 MT earlier.

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