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Production of steel continues to rise in last few years: Minister

By TIOL News Service

NEW DELHI, DEC 01, 2015: STEEL is a deregulated sector and investment decisions to expand the existing steel plants or to set up new steel plants are taken by the individual companies / investors based on commercial considerations, market dynamics and techno-economic viability of projects. The steel industry is facing a challenging time due to low steel prices and low profitability, issues related to land acquisition, environmental & forest clearances and availability of finances from the banks and financial institutions.

The production of steel has continued to increase in the last few years. The details of crude steel production and the percentage growth for it the last three years and for the current year are placed below:

 

Year

Crude Steel Production ('000t)

Percentage Growth

2012-13

78,416

5.4

2013-14

81,693

4.3

2014-15

88,979

8.9

2015-16 (Apr.- Oct.)

52,448

-

Source: JPC

The prices of steel have softened significantly in recent period and there is no shortage of steel in the country.

This information was given by Minister of State Vishnu Deo Sai in reply to a question in Lok Sabha yesterday.


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