India: Wire rod production declines by 16%, m-o-m, in Jul’21

Total wire rod production – via the BF and IF routes – declined by 16%, m-o-m, in Jul’21 to 525,000 t as against 628,000 t in Jun. Company-wise, JSPL recorded the sharpest decline in production by 77% to 7,000 t in Jul, while the Tata Steel Group witnessed a marginal rise of 3% in overall output. Limited buying enquiries for wire rod in the domestic market as well as limited export bookings (that declined by 14% to 7,353 t in Jul) pressured manufacturers to reduce capacity utilisation.