Steel output up sequentially in July

By: |
August 23, 2021 7:00 AM

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.

steelThis suggests that domestic steel companies are now significantly less leveraged than in FY’2009, when the last steel supercycle ended, following the global financial crises,” it said.

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.

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