Indian Finish Long Steel Production Increases 5.3% Y-o-Y in CY'19

As per the custom data maintained with SteelMint, India's gross finished long steel (non-alloy) production moved up by 5.3% to 50.05 MnT from 47.53 MnT in CY'18 which is evaluated 3-year high.

Factor attributed to this higher production is the improved consumption level, which is being persistently high i.e 46.31 MnT in CY'19, marginally up by 1.42% Y-o-Y and also 7 years high, as per the data maintained with SteelMint.

Company wise long steel production in CY19

-- Steel Authority of India Limited (SAIL) bagged as top producer and its yearly production registered at 4.90 MnT, up by 6% against 4.62 MnT in CY'18.

-- Rashtriya Ispat Nigam Ltd. (RINL) produced 3.74 MnT (-11.8%) against 4.24 MnT in CY'18.

-- JSW Steel registered 3.31 MnT, up by 7.82% against 3.07 MnT in CY'18.

-- TATA Steel produced 3.12 MnT which is marginal down by 1.26% as compared to 3.16 MnT in CY'18.

-- Jindal Steel & Power Ltd. (JSPL) marked its finish long steel production at 2.54 MnT, enlarged by 61.8% as compared to 1.57 MnT in CY'18.

-- The finish long steel production by medium and small scale mills surged by 5.08% to 32.45 MnT as compared to 30.88 MnT in CY'18.

Commodity wise-

Bar and Rod production increased by 7% to 40.44 MnT against 37.79 MnT in CY'18, Structure production at 7.86 MnT which declined by 6.42% from 8.40 MnT in CY'18 and production of Railway Material is registered at 1.75 MnT (+30.59%) as compared to 1.34 MnT in CY'18.