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India's crude steel output grows 4% to over 125 MT in FY23: SteelMint

India's crude steel production rose by 4.18 per cent to 125.32 million tonnes (MT) in 2022-23, according to research firm SteelMint

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Press Trust of India New Delhi

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India's crude steel production rose by 4.18 per cent to 125.32 million tonnes (MT) in 2022-23, according to research firm SteelMint.
In the preceding 2021-22 fiscal, the country produced 120.29 MT of steel, the research firm stated.
The production of finished steel was 121.29 MT, up 6.77 per cent from 113.60 MT a year ago.
Domestic consumption of steel rose by 12.69 per cent to 119.17 MT against 105.75 MT in 2021-22.
A SteelMint analyst attributed increasing infrastructure activities to higher production and consumption of steel in India.
Steel exports fell by 50 per cent to 6.72 MT from 13.49 MT a year ago. Imports surged about 29 per cent to 6.02 MT in FY23 from 4.67 MT in 2021-22.
The production of pig iron was at 5.85 MT in FY23, down 6.53 per cent from 6.26 MT in the preceding year.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Apr 23 2023 | 11:54 AM IST

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