Steel companies cheer on better utilisation in lean July-September quarter

Lower-than-estimated rainfall lends support to steel industry

A lower-than-estimated rainfall in the July-September quarter has augured well for the entire domestic steel industry, which kept its capacity utilisation much higher than usual, in turn indicating strong volume growth for the quarter.

“All the big players had their utilisation levels above 95 per cent in the July-September period, from an average 75-80 per cent last year (same time). Dry spells since mid-August has helped not just the large players but also the SMEs (small and medium enterprises),” said Sushim Banerjee, director general, Institute of Steel Development & Growth (INSDAG).

INSDAG, set up on the lines of UK's Steel