Domestic steel production rises as sales pick up
SAIL, ESSAR STEEL WITNESS PRODUCTION GROWTH OF 15% AND 61%, RESPECTIVELY, IN FY17
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.