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India's Crude Steel Output Declines by 3.84% to 8.99 Million Tonnes in January

Feb 11,2019

According to the Joint Plant Committee (JPC) India’s crude steel production fell by 3.84% to 8.995 million tonnes (MT) in January 2019. After the World Steel Association (worldsteel) recently announced that India has replaced Japan as the world's second-largest steel producing country the fall is reported. On January 25, worldsteel in its report noted that India's crude steel production in 2018 was at 106.5 million tonnes, while as Japan produced 104.3 million tonnes in 2018.

 

"Crude steel production was down by 3.8% over January 2018 and was down by 0.2 over December 2018 which stood at 8.995 million tonnes in January 2019," the JPC said in its latest report. The country had produced 9.355 million tonnes of crude steel during the same month a year ago, it said.

 

The report said In January, Rashtriya Ispat Nigam Ltd (RINL) and state-run Steel Authority of India Ltd (SAIL) together with private players JSW Steel, Tata Steel, Jindal Steel and Power Ltd (JSPL) and Essar Steel produced 5.486 million tonnes of the crude metal. The rest came in from other producers.

 

In January 2019, the production of hot metal stood at 6.194 million tonnes, 3.3% higher compared to 5.999 million tonnes in January 2018. The country's pig iron production fell by 3% to 0.526 million tonnes in January this year, as against 0.542 million tonnes in the same period the previous year.

 

By the year 2030 India has set a target of producing 300 million tonnes of crude steel with an investment of Rs 10 lakh crore. A National Steel Policy has already been approved by the Cabinet. JPC is the only institution in India under the Ministry of Steel that collects and maintains data on domestic iron and steel sector.