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India’s crude steel production fell 23 per cent to 7.38 million tonne (mt) in March as compared to the previous month, while export and import also took a beating due to the Covid-19 pandemic and the subsequent lockdown, according to an official statement.
The spread of coronavirus also impacted the country’s consumption of steel which fell 6.6 per cent month-on-month to 0.580 mt in March, the Steel Ministry said in an update on the sector. “While the month of March 2020 witnessed the onset of Covid-19 and the lockdown in the latter half, overall it witnessed a bleak situation for steel sector as a whole. The crude steel production at 7.38 mt observed a huge decline of 22.7 per cent in March 2020 as against 9.56 mt during February 2020, while export-import fell drastically and even consumption reduced by 6.6 per cent,” it said.
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