Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Production in India’s eight core sectors for April grew 56pc compared to the prior year month, according to data released by the government on May 31. Steel and cement were the top sectors in April.


The jump in growth rate in April is largely due to the dip in industrial output of each sector recorded in 2020 when the nation was under strict lockdown.


Core sector output comprises around 40.27pc of the weight included in Index of Industrial Production (IIP).



Steel production jumped 400pc in April compared to the year prior month. Demand from infrastructure sector was strong in April aiding growth of cement and steel sector against a low base year of 2020.


Other sectors

Coal sector in April rose 9.5pc while crude oil output dipped 2.1pc and was the only sector in the negative territory. Another sector that recorded a marginal growth was fertilizers, up 1.7pc. Natural gas production rose 25pc.


Electricity jumped 38pc in April while cement production skyrocketed by 548pc compared to prior year month.



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