Indian Finish Long Steel Production Inch Down in November

Finish long steel output in India has moved down slightly by around 1% in Nov’18 (M-o-M), as per data released by Joint Plant Committee (JPC).

India's finish long (Bar & rods and Structures) steel production by large and medium/small scale mills stood at 4.08 MnT in Nov ’18 as against 4.11 MnT during Oct’18. Hence, the overall production has lessened by 0.72% M-o-M.

However on Y-o-Y basis, Nov'18 figures increased by around 7.65% as compared to 3.79 MnT in Nov’17.

On monthly comparison in Nov'18, Finish long production by the large scale makers i:e; SAIL registered around 0.39 MnT (-7.14%) followed by RINL 0.37 MnT (-5.12%), Tata Steel 0.27 MnT (+8%), JSW 0.33 MnT (+26.92%) and JSPL 0.14 MnT (0%).

Further, the major contribution in Nov'18 registered by medium/small scale producers at 2.58 MnT, shrunk by 3% as against 2.66 MnT in Oct’18.

It seems the production has fallen owing to limited domestic demand as Rebar price range narrowed down upto INR 1,700/MT or equivalent to 4% in Nov’18. In addition limited export inquiries among the manufacturers led to measured production of long steels.

Updates

-- During Oct’18, Finish Long steel exports have been shrunk by 22.25% and registered at 47,074 MT against 60,546 MT in Sep’18.

-- The Nepal notified as largest importer in Oct’18 and registered at 31,756 MT against 34,213 MT in Sep’18.