Industry & Economy
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Steel
Steel consumption rises 10 pc in Q1
Our Bureau
NEW DELHI, July 10
STEEL consumption during the April-June quarter of the current year has gone up by nearly 10 per cent compared to the corresponding period last year coupled up with simultaneous increase in prices, particularly of flat products of hot rolled, cold rolled and galvanised steel products, according to data provided by Indian Steel Alliance (ISA), an association of the five primary steel producers under the aegis of the Confederation of Indian Industries (CII).
During the quarter, the total supplies of HR products by the major producers stood at 1.54 million tonnes, higher by around 30 per cent compared to the corresponding period of last fiscal.
Briefing presspersons on the steel industry scenario, the former Managing Director of Tata Steel and Chairman of the ISA, Mr J.J. Irani, said that despite increased demand there is no shortage of HR products in the domestic market.
It may be noted that since steel prices started increasing from April, the secondary steel producers had been up in arms complaining against the price hike effected by the primary producers. News of short supply in the market had been making the rounds for the past four to six weeks.
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