Steel consumption up 3.5% at 5.6 MT in April

Steel consumption in the country grew by 3.5% in April, marginally higher than the average 3.3% growth in the entire last fiscal.

Steel consumption grew to 5.6 million tonnes (MT) in April from 5.4 million tonnes in the same month last year, according to the data by steel ministry body Joint Plant Committee (JPC).

The country's steel consumption was at 73.3 MT steel in 2012-13, higher by 3.3% over 71 MT consumed in the previous fiscal.

Meanwhile, production grew by 4.5% year-on-year to 6.4 MT in April, from 6.1 MT in the year-ago period. Among main producers, both state-owned steel producers SAIL and RINL clocked negative growth during the month.

SAIL's production was down 0.8% to around 820,000 tonnes. The steel output in RINL dipped by 2.1% to around 230,000 tonnes. Tata Steel, on the other hand, reported a significant 38.2% growth in production in April to about 600,000 tonnes.

Among other steel makers, JSW Steel and Essar Steel produced 2 MT in the month under review, clocking 6.6% growth over the same month last fiscal.

The JPC data showed that India's steel imports were down by 47.8% at about 350,000 tonnes in April from about 670,000 tonnes a year ago.

Exports, however, grew by 44.4% to around 450,000 tonnes in the month from 310,000 tonnes in April, 2012.