Posted on 06 Jul 2023
Indian crude steel production grew 13.7% on-year to 11.28 million tonnes in June, compared with 9.92mt produced a year earlier, according to Joint Plant Committee (JPC) preliminary data seen by Kallanish.
The output, however, inched up only marginally on-month, by 1%, versus the 11.17mt produced in May.
The collective crude steel production of JSW Steel, Jindal Steel and Power, and AMNS India totalled 3.11mt, up by 9.6% on-year. Tata Steel’s production grew 1.5% to 1.69mt in June. Other major producers include SAIL and RINL, which produced 1.57mt and 0.36mt, respectively, during the period.
Indian hot metal and pig iron production also grew, by 12.3% and 14.9% on-year, respectively, to 7mt and 0.51mt in June.
The nation’s finished steel production surged 12% on-year to 10.52mt in June. The collective finished steel production of JSW Steel, Jindal Steel and Power, and AMNS India totalled 2.98mt and surged by 21.6% on-year. Other major finished steel producers include Tata Steel (1.67mt), SAIL (1.25mt) and RINL (0.31mt).
Meanwhile, Indian finished steel exports plummeted 21.4% on-year to 0.5mt in June, whereas finished steel imports grew 7.6% to 0.48mt during the period.
The nation’s apparent steel consumption in June increased 13.81% to 9.88mt versus 8.68mt a year ago. Owing to the monsoon, consumption dropped 4.85% on-month versus 10.36mt in May.
Meanwhile, Indian crude steel, pig iron, and hot metal production grew 8.4%, 3.3%, and 6.6% on-year, respectively, to 33.63mt, 1.53mt, and 20.89mt in the June quarter. Finished steel production and steel consumption increased by 11.7% and 10.2% respectively to 32.41mt and 30.29mt.
Imports surged 19.5% on-year to 1.4mt but exports dropped 6.4% to 2.05mt during the period.
Source:Kallanish
