India's crude steel production increased 5% year on year in May due to increased demand

Release time：Jul 01, 2019 From：admin

Preliminary data released by the Joint Plant Committee on Tuesday showed that crude steel production in India increased 5% to 878 tons in May from a year earlier, as apparent demand for steel increased to 8.03 million tons, or 7.4% from a year earlier.

Data released by the agency also showed that India's steel production in May this year was 10.85 million tons, an increase of 1.6% over the same period last year.

From April to May (India's fiscal year begins in April each year), India's crude steel output was 18.2 million tons, an increase of 3.4% over the same period, while the steel output in the same period was 16.29 million tons, an increase of 6.5% over the same period.

Data show that although India's steel imports and exports declined year-on-year in May, India was a net steel importer in May, as the decline in exports significantly exceeded the decline in imports. (Source: Wenhua Finance and Economics)