Steel sector India is ramping up production of steel
The Indian Ministry of metallurgical industry provided data concerning steel production in the country. In August, the national enterprise produced 8.24 million tonnes of steel. In the history of India is the second largest indicator. It is second only to March’s results this year. Regarding August 2015, the increase was 12%. This jump also showed a record result over the past few years. At the same end of the August steel consumption reaches 6.97 million tons. In comparison with last year growth is only 1%. For this reason, national manufacturers sharply increased their exported volumes. They made 680000 tons. Compared to August of 2015 the growth was 87%. The imported volumes declined by 36%. They made 619000 tonnes. In August, India got the title a net exporter. In 2014 this event took place for the first time.
Were evaluated and results for the five month period of this financial year. Production was 40.5 million tons of steel. Compared to the previous year the growth amounted to 7.9%. Apparent consumption of products has risen not too noticeable. The growth amounted to 1.3% to the level of 33.74 million tonnes. However, the position on the domestic market producers were able to strengthen. It happened due to the reduction of imported volumes to the level of 3.01 million tons. The reduction thus amounted to 35%. Reducing imported from abroad volume of production was accompanied introduce protectionist measures. Was introduced minimum import cost and anti-dumping duties. Measures affected certain types of steel sheet metal.
In General, manufacturers in India have a positive attitude, assessing the future prospects for the near future. Analysts suggest that the demand for national production will begin to increase from late September. You may have to wait until the beginning of October after the cessation of monsoon rains. Presumably the apparent consumption will be higher than last year by 5%. Amid these improvements will increase average capacity utilization by approximately 75−80%. The result will be a continued increase of steel production. In the steel sector will be the next Champions. To the maximum level to increase production of steel public company SAIL. She is not going to lag private company JSW Steel. They both are the biggest Indian manufacturers of steel products.