India raises both output and consumption of steel in April
April figures show that finished steel
production in
India as well as
consumption have increased over last year same period results in April.
The finished steel
production increased by 8.7% over April 2002 with most of the state owned companies such as
SAIL, Vishakhapatnam Steel Plant, National Mineral Corporation Ltd. all exceeding their targets and
Sponge Iron India Ltd. turning around to make a net profit of Rupees 6 crore following a loss making period till 1999-2000.
The demand for finished steel also grew by 4.6% over the last year same period, reaching a 2.25 million tons.
Total
pig iron production also increased by 8.5% in April, reaching 470'000 tons, while
consumption of the material grew by 12% compared to same period of last year.