India’s crude steel output is witnessing sharp increase this fiscal. In FY17 (till Dec’16) the crude steel output stood at 72.4 MnT compared to 66.52 MnT in the same period last fiscal. Thus there is a yearly growth of 9% can be seen.
On quarterly basis, India’s crude production remained stable. In Q3 FY17 India’s crude steel production stood at 24.37 MnT against 24.36 MnT in Q2 FY17.
Major Indian steel producers – SAIL, Tata Steel and Essar Steel have raised their output in Q3 FY17 compared to the previous quarter. Crude steel output of Tata Steel jumped 10% Q-o-Q, SAIL’s increased 3% Q-o-Q and that of Essar Steel moved up by 5%.
Although JSW Steel’s output fell marginally by 3% Q-o-Q in Q3 FY17. But the steel maker has recorded production of 11.7 MnT in FY17 (till Dec’16), up 25% Y-o-Y.
All the major Indian steel biggies have reported best outputs in past few months.
|
Particulars |
Crude Steel Production in FY17 | |||
| SAIL | Tata Steel | JSW Steel |
Essar Steel |
|
| Q1 FY17 | 3.6 | 2.52 | 3.87 | 1.23 |
| Q2 FY17 | 3.5 | 2.81 | 3.98 | 1.34 |
| Q3 FY17 | 3.6 | 3.1 | 3.86 | 1.41 |
Essar Steel production fig are of liquid steel
Fig in MnT
Source: Company Reports
India’s steel consumption trailing behind production – As per reports, India’s steel consumption grew 3.3% Y-o-Y during Apr-Dec’16 and was recorded at 61.5 MnT. To the contrast, India’s steel production in the same period witnessed a growth of 9%.
Leave a Reply