Economy

March steel output slumps 23%

PTI New Delhi | Updated on April 28, 2020 Published on April 28, 2020

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.

Published on April 28, 2020

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