India’s crude steel production falls by 6% in FY ’21 – Govt data

Joint Plant Committee today released its official report on the performance of Indian steel industry for the fiscal year 2020-21. Crude steel production in India was registered at 102.4 mn t during FY ’21, recording a decrease by 6% y-o-y against 109.1 mn t in the previous fiscal. Lower capacity utilization in Q1 FY ’21 due to imposed lockdown in order to curb the pandemic resulted in a decline in production volumes. India’s finished steel consumption has seen a 7% y-o-y drop in FY ’21.