India’s tier-1 mills’ crude steel production performance was in keeping with the output trend in India in Q3FY’24, which was mixed, rising around 9% in October, 2023, falling back in November m-o-m and then showing a marginal uptrend again in December. Among the tier 1 mills too, it was a mixed trend q-o-q but slightly fluctuating on a y-o-y basis. JSW Steel and Tata Steel recorded an increase. The former’s rose 6% to 5.72 mnt (5.4 mnt in Q2) while Tata Steel saw a 7% increase to 5.35 mnt (5 mnt). SAIL, at 4.8 mnt remained flat. So did AM/NS India at 1.96 mnt and JSPL with 1.94 mnt. Overall, it was a nominal growth trend. On a y-o-y basis, too the trend was similar for JSW Steel (up 7.5%) and Tata Steel (up 7%) while SAIL’s rose a mere 2%, AM/NS India’s jumped 21% and JSPL showed a 6% drop.
