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India's crude steel output up 8% in July: World Steel Association
NEW DELHI: India's crude steel output increased by 8 per cent to 9 million tonnes (MT) in July this year, according to the World Steel Association.
The country had produced 8.33 MT crude steel in the same month a year ago, the association said in its latest report.
"Global crude steel production was at 154.6 MT in July 2018, a 5.8 per cent increase compared to July 2017," it added.
The country had produced 8.33 MT crude steel in the same month a year ago, the association said in its latest report.
"Global crude steel production was at 154.6 MT in July 2018, a 5.8 per cent increase compared to July 2017," it added.
India had produced 8.33 MT crude steel in the same month a year ago, the association said in its latest report.
While the consumption levels are likely to ease in a seasonally weak second quarter, the agency said government's continued thrust on infrastructure spends and expected improvement in rural demand on the back of higher minimum support prices (MSPs) is expected to drive the steel consumption growth momentum in the coming months.
Domestic steel consumption grew at a healthy pace of 9.2 percent year-on-year in June quarter, compared with 7.9 percent in FY18, driven by strong automobile sales growth and further uptick in demand for longs by the construction sector before the onset of the monsoon, the report said.
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