New Delhi: India clocked 83.90 million tones of finished steel consumption in the first 10 months of the ongoing fiscal 2019-20, which is 3.8 percent higher as compared to the same period of the previous fiscal.
The finished steel consumption in the country stood at 98.71 million tones and 90.71 million tonnes in the 2018019 and 2017-18 fiscal respectively The consumption was 84.04 million tonnes in 216-17 fiscal, said Minister of Steel Dharmendra Pradhan in Lok Sabha recently.
It is anticipated that at the present rate of GDP growth, steel demand will rise threefold to reach a level of 230 million tonnes by 2030-31.
He also said that the production of iron ore in the country in 2018019 stood at 207.7 million tonnes and the export of it was 16.2 million tones and domestic consumption was 160 million tones.
He also informed that the crude steel making capacity in the country stood at 142.24 million tones and crude steel production was 110.92 million tonnes in 2018019 fiscal. The total finished steel export was 6.36 million tonnes and the total finished steel consumption was 98.71 million tonnes in 2018-19.
Steel Authority Of India Ltd (SAIL) has achieved 7.7 percent in salebale steel sales in the first nine months of the current fiscal as compared to the same period of the previous fiscal.
The company clocked sales of 10.7 million tonnes of saleable steel in the first nine months of the ongoing fiscal. It had sold 14.11 million tonnes of saleable steel in 2018-19 fiscal, the minister said.
In 2018-19, total demand for coking coal for steel industry was 58.37 million tonnes. Out of this, 51.83 million tonnes demand was met by imports and about 1.6 million tonnes as provided by Bharat Coking Coal Limited (BCCL) and Coal India Limited (CIL) and remaining was catered by captive collieries of SAIL and TATA Steel.