India: Finished long steel output declines by 32% y-o-y in H1 CY ’20

India’s finished long steel production during the first half of CY ’20 registered 17.54 mn t, decreased by 32.5% against 25.97 mn t in H1 CY ’19, as per the Govt. data maintained with SteelMint.

Major factors that affected the production of long steel during H1 were:

• Imposition of lockdown from mid Mar ‘20 resulting in limited workforce owing to migrant labourers.
• Dull fundamental sentiments in terms of demand which drifted down long steel consumption by 24.5% to 18.16 mn t in H1 CY ’20 against H1 CY ’19.

Company wise production (non-alloy)

Qty. in mn t
Source: SteelMint Research

Commodity wise production

Qty. in mn t
Source: SteelMint Research