Industry Research - Domestic Steel Production, Consumption In April: CARE Ratings

A winch carries a sealed steel coil over a storage area ahead of shipping. (Photographer: Krisztian BocsiBloomberg)

Industry Research - Domestic Steel Production, Consumption In April: CARE Ratings

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

CARE Ratings Update on Steel Industry April 2021.pdf

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