India raises both output and consumption of steel in April

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.