Steel output up sequentially in July

Production of crude steel increased by 3.9% m-o-m in July 2021.

Production of crude and finished steel in the month was up 11.9% y-o-y and 10.6% y-o-y, respectively, while consumption of finished steel grew by 7.3% y-o-y.

When compared with July 2019, production of crude steel and finished steel was higher by 3% and 4%, respectively; however, India’s consumption was lower by 4% compared to July 2019, CARE Ratings said.