In India, steel production and consumption increased by more than 5 percent

India's finished steel production increased 5.3% to 88.592 million tonnes from April to January of this year (2017-18), while the country's consumption increased 5.4% to 72.497 million tonnes over the same period, as stated in the message of the Ministry of Steel.

For 10 months of the 2017-18 fiscal year, exports of finished steel to India increased by 40.2% to 8.222 million tonnes in the same period of 2016-1917, while imports during this period amounted to 6.432 million tonnes, which is 5.5% more than the corresponding period the previous fiscal year.

India's consumption of finished steel in April-January 2017-18 is up 72.497 million tonnes over the same period last year, up 5.4% driven by increased production for sale and imports, "the ministry said in a report by the Joint Plant Committee ( JPC).

Steel Plants of India (SAIL), Rashtriya Ispat Nigam Ltd (RINL), Tata Steel Ltd (TSL), Essar, JSW Ltd and Jindal Steel (JSWL) and Power Ltd (JSPL) together produced 51,717 tons of finished steel for sale during the first ten months of the current financial year, which is 9 percent more than in the same period last year.

The report says that total finished steel production increased by 9.543 million tonnes in January 2018, up 5.7% over the corresponding month in 2017 and 6.6% over December 2017.

“In the period from April to January 2017, steel production amounted to 84.42 million tons, which is 4.2% more than in the same period last year,” it was reported.