Crude Steel production up by 2.9% year-on

The Ministry of Steel today said that the country’s steel sector has sustained its growth trajectory in May this year recording year-on-year gains across key production and consumption indicators. According to the Ministry, the country’s Crude steel production has grown up by 2.9 percent year-on-year, reaching 14.21 million tonnes in the last month. Finished steel consumption in May registered growth of 9 percent year-on-year at 14.33 million tonnes. On the trade front, imports stood at 0.69 million tonnes and exports at 0.51 million tonnes in the last month, registering year-on-year growth of 62.5 percent and 29.9 percent over the same period last year.
        The Ministry said, the Indian steel industry is well-positioned to sustain its growth trajectory, underpinned by robust infrastructure spending and expanding manufacturing activity.