Industry Research - Domestic Steel Production, Consumption In April: CARE Ratings
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CARE Ratings Research Report
India’s steel production and consumption saw exponential growth of 141.7% and 516.4%, respectively in April 2021 compared with April 2020.
However this was mainly due to low base effect as production and demand for steel were severely hit in the corresponding month of 2020 when nationwide lockdown was imposed due to the coronavirus pandemic.
On a monthly basis, the pace of steel production slowed down in April 2021 to 7.9 million tonne after hitting 10 million tonne in March 2021 and 9.1 million tonne in February 2021.
This translates into a 20.6% month-on-month fall.
Steel production in April 2021 was the lowest since June 2020.
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