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The total production of finished steel during April to August 2004 has been provisionally estimated to be about 147.50 lakh tonnes as against production of 143.41 lakh tonnes during the same period last year, thus showing an increase of 2.9 per cent. Similarly, there has also been an increase in the apparent consumption of finished steel during April-August 2004, which was 126.00 lakh tonnes, that is higher by 5.4 per cent as compared to 119.52 lakh tonnes for the same period last year.
In view of the increase in production of finished steel, there has been a corresponding decrease in the production of pig iron during April-August 2004, which has been estimated to be 19.30 lakh tonnes as against the production of 22.43 lakh tonnes during the same period last year, thus showing a decrease of 14.1 per cent. This reduction in production is primarily due to higher production in steel which is a larger value added product than pig iron.
The export of steel during April to August 2004 has been estimated to be 16.50 lakh tonnes which is lower by 27.15 per cent as compared to the corresponding period last year. Export have primarily fallen because of the emphasis given by Government on increasing availability in the domestic market.
During the month of August 2004 Steel Authority of India Limited (SAIL) achieved a production of 10.08, 9.53 lakh tones of hot metal, crude steel and saleable steel respectively representing 86%, 87% and 99% of respective targets.
The Ministry has finalised the National Steel Policy. the same is likely to be placed before the Cabinet by the end of the month.
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