Crude steel out­put dips 4% to 8.99 mt in Jan­uary

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE - —PTI

New Delhi: Crude steel pro­duc­tion fell by 3.84% to 8.995 mil­lion tonne (mt) in Jan­uary 2019, ac­cord­ing to the Joint Plant Com­mit­tee (JPC).

The fall is re­ported af­ter World Steel As­so­ci­a­tion (world­steel) re­cently an­nounced that In­dia has re­placed Ja­pan as the world’s sec­ond-largest steel pro­duc­ing coun­try.

On Jan­uary 25, world­steel in its re­port noted that In­dia’s crude steel pro­duc­tion in 2018 was at 106.5 MT, while as Ja­pan pro­duced 104.3 mt in 2018.

“Crude steel pro­duc­tion stood at 8.995 mt in Jan­uary 2019, down by 3.8% over Jan­uary 2018, and was down by 0.2% over De­cem­ber 2018,” the JPC said in its lat­est re­port.

The coun­try had pro­duced 9.355 mt crude steel dur­ing the same month a year ago, it said.

In Jan­uary, state-run Steel Author­ity of In­dia Ltd (SAIL) and Rashtriya Is­pat Nigam Ltd (RINL) to­gether with pri­vate play­ers JSW Steel, Tata Steel, Jin­dal Steel and Power Ltd (JSPL) and Es­sar Steel pro­duced 5.486 mt of the crude metal.

The rest came in from other pro­duc­ers, the re­port said.

In Jan­uary 2019, the pro­duc­tion of hot metal stood at 6.194 mt, 3.3% higher com­pared to 5.999 mt in the same month last year.

The coun­try’s pig iron pro­duc­tion fell by 3% to 0.526 mt in Jan­uary this year, as against 0.542 mt in the same pe­riod pre­vi­ous year. In­dia has set a tar­get of pro­duc­ing 300 mt crude steel by 2030 with an in­vest­ment of Rs 10 lakh crore.

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