Data shows that the growth in production was undoubtedly spearheaded by the IFs which grew 25% y-o-y to 50 mnt against 40 mnt seem in FY’23. The electric arc furnaces (EAFs) showed 12% growth to 31 mnt (28 mnt). The basic oxygen furnace (BOF) route, in comparison, fell back a little with a mere 5% growth to 61 mnt (59 mnt). IF-EAF combined contributed 82 mnt or more than 56% of the total 143 mnt. It is interesting to note that the share of BOF fell to 43% from FY’23’s 46%. The EAF share remained flat at 22%. But the IF segment’s share increased to 35% from the previous 32%.
