India's steel production increases 3.8%

India’s steel production increases 3.8%

India's total production of finished steel for the April 2004 - January 2005 period rose 3.8% year-on-year to 31.65 million metric tons. Total pig iron production was 2.39 million metric tons, a 900'000 metric ton decrease from the previous year. On the other hand, the consumption of finished steel during the same period increased 6.2%, from 26.27 million metric tons to 28 million metric tons. An increase in domestic demand saw steel exports during the ten-month period tumble 26.24% year-on-year to 3.08 million metric tons. In January 2005, India's state owned Steel Authority of India Limited (SAIL) produced 1.26 million metric tons of hot metal, 1.18 million metric tons crude steel and 1.05 million metric tons of saleable steel, representing 97%, 100% and 100% of the company's respective production goals.