Crude steel out­put dips 4% to 8.99 MT in Jan­uary

Millennium Post - - Mp Business -

NEW DELHI: In­dia's crude steel pro­duc­tion fell by 3.84 per cent to 8.995 mil­lion tonnes (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 per cent 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 per cent higher com­pared to 5.999 MT in the same month last year.

The coun­try's pig iron pro­duc­tion fell by 3 per cent 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. A na­tional steel pol­icy has al­ready been ap­proved by the by the Cabi­net.

Un­der the Min­istry of Steel, JPC is the only in­sti­tu­tion in In­dia that col­lects and main­tains data on do­mes­tic iron and steel sec­tor.

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