Do­mes­tic steel pro­duc­tion rises as sales pick up

SAIL, ESSAR STEEL WIT­NESS PRO­DUC­TION GROWTH OF 15% AND 61%, RE­SPEC­TIVELY, IN FY17

Resource Digest - - CONTENTS -

With do­mes­tic steel mak­ers wit­ness­ing in­creased pro­duc­tion in the cur­rent fi­nan­cial year, the de­mand sce­nario, both do­mes­tic and ex­ports, seems to be in a pick-up mode.

State-owned Steel Author­ity of In­dia (SAIL) has pro­duced 10.18 mil­lion tonnes of saleable steel dur­ing April-de­cem­ber, up 15 per cent from same pe­riod last year.

Mean­while, Essar Steel saw high­est quar­terly pro­duc­tion in the quar­ter ended De­cem­ber with the pro­duc­tion of flat steel prod­ucts ris­ing 61 per cent on year-on-year ba­sis to 1.48 mil­lion tonne. The out­put of pel­lets also grew 99 per cent in the pe­riod un­der re­view to 2.59 mil­lion tonne.

Sail posted sales growth of 16 per cent dur­ing Aprilde­cem­ber over the cor­re­spond­ing pe­riod last year, the com­pany said in its re­cent re­lease.

"Im­proved do­mes­tic sales as well as ex­pand­ing ex­ports, with the lat­ter record­ing a re­mark­able rise of around more than dou­ble dur­ing this pe­riod, con­trib­uted to the im­proved sales num­bers," said the com­pany.

The com­pany's ex­ports rise is keep­ing pace with the SAIL'S fo­cus to ex­pand its global foot­prints, it added.

Sa­j­jan Jin­dal-led JSW Steel also saw its pro­duc­tion move up in Novem­ber, as flat-rolled prod­ucts jumped 71 per cent from a year ago pe­riod to 887,000 tonne, while long prod­uct out­put fell 2 per cent to 221,000 tonne.

Naveen Jin­dal-led Jin­dal Steel & Power, Tata Steel and Rashtriya Is­pat Nigam are among the other top steel pro­duc­ing com­pa­nies in the coun­try.

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