During Apr-Jul 2013, consumption of finished steel in India rose just 0.2 per cent to 24.1 million tonne (mn t) on year-on-year basis. During the same period, steel output grew 3.1 per cent to 26.1 mn t, from 25.3 mn t during the year-ago period.
The muted growth in steel consumption is attributed to poor off-take by large sectors like construction and automobiles.
Industry players feel that slowdown in the economy reduced consumption from the construction and automobile sectors and things may be better after the monsoon season.
SAIL, Tata Steel and Rashtriya Ispat Migan produced 6.6 mn t during the period, clocking 9.6 per cent growth, while other key producers like JSW Steel and Essar Steel had cumulatively output of 7.4 mn t.
Recording over 36 per cent decline, imports of steel fell to 1.8 mn t during the April-July period, from 2.8 mn t a year earlier. Exports were also marginally down to 1.41 mn t, from 1.48 mn t.
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