Indian production of finished steel in April this year was recorded at 7.01 million mt, down 23 percent on month-on-month basis, while domestic finished steel consumption was estimated at 6.73 million mt, with a decline of 26 percent month-on-month, according to a monthly report of India’s steel ministry issued on Friday, May 28.
The production of crude steel in April this year was recorded at 7.96 million mt, down 21 percent from March, the report said.
It pointed out that domestic steel plants increased production of liquid medical oxygen by 48 percent to 4,191 mt in the May 1-10 period.
According to the report, the price of ore lumps increased by an average of 30 percent in April and that of fines increased by 17.4 percent, due to the domestic demand-supply situation as well as the increases in the international market during the month.
The ministry report said that government-run Steel Authority of India Limited’s hot metal production was recorded at 1.37 million mt in April, with 1.23 million mt of crude steel and 1.25 million mt of finished steel.
State miner NMDC Limited recorded iron ore production of 3.13 million mt in April and sales of 3.09 million mt.