Finish long steel output in India has moved down by around 18% M-o-M in Feb’19, as per data released by Joint Plant Committee (JPC).
Finish long steel production has moved down by 17.51% on monthly basis and registered at 3.58 MnT in Feb’19 against 4.34 MnT in Jan’19.
In line with it, it has plunged by more than 7% yearly basis against 3.85 MnT in Feb’18.
The fall in production attributes to limited trade volume as the prices have been falling since mid of Feb’19 in the major producing regions.
Further, slow down lifting even though the sufficient availability of material with medium/small scale mills is considered one of the major factors behind falling production. Out of total finished long steel productions in India, more than 60% contributed by secondary producers.
Company wise – SAIL (Steel Authority of India Limited) bags top producer among large mills and registered at 0.41 MnT (-4.65%), followed by RINL popularly known as Vizag Steel – 0.33 MnT (-5.71%), JSW Steel – 0.29 MnT (-10%), TATA Steel – 0.23 MnT (-14.81%) and Jindal Steel & Power Ltd – 0.15 MnT (-6.25%). The changes are mentioned for Feb’19 as against Jan’19.
Also, the major proportion of finish long steel productions recorded by medium/small scale mills at 2.18 MnT (-23.23%), which contributes about 61%.
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