India's crude steel production increased by 14.7% year-on-year from Q2 to Q3

 Key words: Indian steel prices, Indian steel market, Indian steel exports, Indian steel producers, Indian steel traders, Indian steel production, SECD steel price, SECD steel specification, SECD steel supplier, SECD drawing steel.

Description

Data shows that in the second to third quarters of 2023, India's crude steel production was 69.65 million tons, a year-on-year increase of 14.7%, compared to 61.06 million tons in the same period last year. It is understood that the main reason for the increase in crude SECD steel production in India during this period is the expansion of production capacity and improvement of capacity utilization rate by Indian SECD steel mills. It is expected that in the future, India's crude steel production will continue this growth trend.

In terms of the domestic market in India, the consumption of finished materials in the second to third quarters was 63.99 million tons, a year-on-year increase of 14.77%, compared to 55.75 million tons in the same period last year. In the international market, during this period, India's SECD steel export volume was 3.23 million tons, a year-on-year decrease of 10.25%, compared to 3.6 million tons in the same period last year. At the same time, the import volume was 2.9 million tons, an increase of 13.33% year-on-year, compared to 2.56 million tons in the same period last year.