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Home / Metal News / Indian Steel consumption edges up to 18.82 million tones during Q2

Indian Steel consumption edges up to 18.82 million tones during Q2

iconJul 21, 2014 09:02
Source:SMM
India's steel consumption edged up by 0.7% year-on-year to 18.82 million tons during the second quarter of this year.
INDIA July 18 2014 5:35 PM
 
MUMBAI (Scrap Register): India's steel consumption edged up by 0.7% year-on-year to 18.82 million tons during the second quarter of this year, as per the latest figures released by Joint Plant Committee (JPC), a body under Indian Steel Ministry.
 
According to the ministry, country had consumed 18.69 million tons of steel in the April-June quarter of last year.
 
Indian steel consumption grew by just 0.6 per cent in the 2013-14 fiscal, the slowest in at least four years, to 73.93 million tons.
 
Indian steel exports grew by 4.1% at 5.59 million tons in the last fiscal while its imports were down by 31.3% to 5.445 million tons. 
 
JPC estimates that the India's steel consumption may go up to 176 million tons by 2025-26 if the economy grows by 6.5% during the period between now and 2025-26.
 
India, which became a net exporter of steel in recent times, exported 1.34 million tons of finished steel during April-June period clocking a 18.5% growth over a year ago.
 
India's steel imports also went up during the second quarter. During the period, nation's import of finished steel saw a growth of 11.8% to 1.49 million tons.
 
India is the world's fourth biggest steel maker with 81 million tons of production in 2013. The sector contributes about 2% of the India's GDP and employs over six lakh people.
 
India steel consumption
India Q2 steel consumption

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