Data from union steel ministry reveals that sales of Steel Authority of India (SAIL) contracted 2.71 per cent during April-December 2012 to 76.03 lakh tonne from 78.15 lakh tonne in the year ago period.
Similarly, sales of Vizag-based Rashtriya Ispat Nigam (RINL) also fell over 17 per cent to 17.86 lakh tonne compared to 21.63 lakh tonne reported during this period.
It may be noted that the sales of these two firms declined despite a 3.9 per cent rise in India’s steel consumption to 548 lakh tonne during the period.
However, the 3.9 percent rise in steel consumption might be dubbed as “subdued” in comparison with the entire last fiscal’s consumption growth of 7 per cent.
During December also, sales of both the firms declined as well. While SAIL’s sales decreased by 4.47 per cent to 9.41 lakh tonne, RINL’s sales slumped to 2.51 lakh tonne from 3.43 lakh tonne in December, 2011.
The sales realisation of both SAIL and RINL also fell during the month by 8.39 per cent (Rs 4,108 crore against Rs 4,484 crore) and by 24.89 per cent (Rs 1,147 crore against Rs 1,527 crore), respectively.
Meanwhile, the sales of public sector iron ore miner NMDC rose 8.5 per cent in December, 2012 at 22.34 lakh tonne against 20.59 lakh tonne a year ago.
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