India's Finish Long Steel Production Hit Record High in CY18

As per recent data released by Joint Plant Committee, India's Finish long steel production moved up by 6.06% in CY18 which is highest ever since the data retained by SteelMint from calendar year (CY) 2012.

As per data, India produced about 47.58 MnT Finish long steels in CY18, which is higher by about 6% as against 44.86 MnT in CY17.

In line M-o-M in Dec'18, the production has been elongated by 5.39% which is also highest since Feb'15 and registered at 4.3 MnT against 4.08 MnT in Nov'18.

The productions has spurt in line with positive outlook amid strengthening prices and as per SteelMint's assessment on an average the prices grew by 26% Y-o-Y in major locations.

Further, finish Long production level is continuous developing with proportionate of 5-6% from last couple of years amid massive spending in infra projects in across regions by government schemes.

On yearly basis, the company that occupied largest share was JSW Steel which contributes by 33% and registered at 3.07 MnT in CY18 against 2.3 MnT in CY17, followed by RINL (15%) at 4.24 MnT in CY18 as against 3.68 MnT in CY17.

JSPL's production grew by around 14% to 1.51 MnT in CY18 in comparison with 1.33 MnT in CY17. SAIL's production stood at 4.62 MnT in CY18 (+2%) against 4.53 MnT in CY17 and last Tata Steel which is slightly moved down by around 2% and registered at 3.16 MnT in CY18 against 3.22 MnT in CY17.