Finish long steel production in India elongates around 12% in Aug’18 with 3.98 MnT against Jul’18 at 3.54 MnT.
As per the recent data released by Joint Plant Committee, Finish long (Bar & rods and Structures) steel production in India by both large and medium/small scale producers stood at 3.98 MnT in Aug’18.
In Aug 2018, the production has been stretched up by around 12.42% M-o-M and around 7.56% on Y-o-Y and registered at 3.98 MnT in Aug’18 against 3.7 MnT in Aug’17.
The rise in productions can be attributes to high price realizations. As per SteelMint assessment, during Aug’18 the Indian long steel prices surge nearly 3-4% (INR 700-1,500/MT) in specified regions by medium & small scale producers. Amid rise in prices, inventories were limited with the major mills in Aug’18.
On monthly comparison in Aug’18, Finish long production by the large scale makers i:e; SAIL registered around 0.36 MnT (0%) followed by RINL 0.34 MnT (+3%), Tata Steel 0.27 MnT (+8%), JSW 0.26 MnT (+4%) and JSPL 0.11 MnT (-8.34%).
Further, major contribution by medium scale producers registered at 2.64 MnT, enhanced by 18.38% against 2.23 MnT in Jul’18.
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