India’s crude steel output declined by 4.2pc in August to 8.49mn mt from the prior August, but was up 5.1pc from July as mills ramped-up production. Finished steel exports in the month slowed to grow at 5.7pc to 10.39mn mt from the prior August, while imports dropped by 81.1pc to 162,000mt amid an 18.45pc fall in apparent steel consumption.
| India’s steel production in August (mn mt) | ||||
|---|---|---|---|---|
| Production | Aug-20 | Aug-19 | Change YoY | Change MoM |
| Crude Steel | 84,93,000 | 88,68,000 | -4.23% | 5.14% |
| Finished Steel | 78,98,000 | 83,59,000 | -5.52% | 6.70% |
| Hot metal | 60,08,000 | 59,61,000 | 0.79% | 4.63% |
| Pig iron | 4,11,000 | 4,50,000 | -8.67% | -0.72% |
For April-Aug period, crude steel output dipped by 27.4pc to 33.55mn mt from the prior period while Hot Metal production was 24.2mn mt, down by 21.5pc. India’s finished production fell by 33.2pc to 29.05mn mt, while pig iron production dropped by 36.5pc to 1.61m mt.
In April-August, finished steel exports rose by 94.8pc to 5.68mn mt from the prior year period, while imports dipped by 51.7pc to 1.66mn mt. Apparent steel consumption declined by 37.9pc to 26.40mn mt in the five-month period.