Indian producers to reduce production in Q1
According to recent news in the market, major Indian producers Steel Authority of
India Ltd (
SAIL) and Rashtriya Ispat Nigam Ltd (RINL) have determined to reduce finished steel
production by 20% in April-June period due to non-availability of
coking coal.
As previously reported by SteelOrbis, a unit of
SAIL, Bhiali Steel Plant (BSP) had to reduce its
production by 30% in March due to shortage of coal.
The initial
production target of
SAIL for the first quarter is 4 million tons and RINL for 2004-05 fiscal is 4.2 million tons. However, both producers will reduce these
production levels.
On the other hand, it is stated that, other major Indian producers Tata Iron and Steel Corp (TISCO) and
Jindal Stainless Steel do not have
coking coal problem as they own their own mines.