India’s tier-1 mills put up a fairly good show in financial year 2023-24 (FY’24). Crude steel production increased for a majority of them, as did sales. A majority of the tier-1 mills put up a good show in terms of production in financial year 2023-24 (FY’24) since demand was overall good compared to the rest of the world. JPC data reveals that consumption in FY’24 improved around 14% to 126 million tonnes (mnt) compared to 110 mnt in FY’23. Indian steel mills’ average India capacity utilisation was at 92% in FY’24, and at 93% in Q4FY’24.
