Economy

Auto sector deman pushes up steel output in Dec

Our Bureau New Delhi | Updated on January 21, 2011 Published on January 21, 2011

BL11_steel.eps





Increasing demand from the auto sector has led to greater steel production in December 2010.

According to provisional figures from the Joint Plant Committee, total steel production for sale in December 2010 increased by 6.7 per cent to 5.2 million tonnes as against 4.8 million tonnes in the same month last year.

Total steel imports into the country dipped on a year-on-year basis by 58 per cent to 261,000 tonnes in December 2010. However, imports were 15,000 tonnes higher than November 2010 figures.

Demand-driven

“There has been good demand from the auto sector. Even in the real estate sector construction has picked, which has been good for the steel demand scenario. The production numbers have also increased because most companies were re-filling their inventories, which had dipped after sales surged in the October-November period,” said an industry official.

The real consumption numbers for December 2010 were slightly lower than the same month last year. Real Consumption for the month stood at only 4.5 million tonnes as against 4.6 million tonnes in December 2009, a dip of about 3.2 per cent.

April-Dec numbers

For the April-December 2010 period, total steel production for sale went up 7.3 per cent to 47 million tonnes as against 43 million tonnes in the same period last year. Steel consumption in the country also surged 8.8 per cent in the April-December period.

In April-December 2010, 44 million tonnes of steel was used in the country as against 40.8 million tonnes in the same period last year.

Steel imports in the same period were 2.3 per cent higher at 5.3 million tonnes as against 5.2 million tonnes in the same period last year.

Steel exports in April-December 2010 have also been recorded to be 1.8 per cent higher at 2.35 million tonnes as against 2.31 million tonnes in the same period last year.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 21, 2011
This article is closed for comments.
Please Email the Editor