Indian Crude Steel Production Recovery Continues in June
Time:Wed, 29 Jul 2020 10:18:59 +0800
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According to the Ministry of Steel, steel sector in India has started showing signs of improvement and in the month of June the country's crude steel production stood at 6.8 million tonne, up 17.7% higher over May, 2020 but down by 27.2 per cent over June 2019. It noted that economic activities, after hitting the nadir in April 2020 due to spread of COVID-19 pandemic and nationwide lockdown, have started showing signs of improvement from May 2020. On the output of steel, it said the production has shown a consistent improvement after witnessing a decline in April this fiscal.
The ministry further said the production of finished steel in June 2020 at 5.9 million tonne, was up 15.6 per cent compared to 5.1 million tonne in May 2020. However, on year-on-year basis, the output of finished steel in June 2020 was lower by 33.3 per cent.
The ministry also said while ensuring increase in production of steel and its consumption, it is also necessary to identify and address the challenges the users face in terms of adopting domestic steel products.
