Page 63 - Steel Tech India eMagazine Volume April 2022

VOL. 16 • NO. 3 • April 2022

Table 2: Stainless steel production(‘000t)

Stainless steel melt shop steel production [000 metric SAIl DSP reported best ever performance in April
tons] 2022.Tata Steel to install new EAF facilities in North,
Others: Brazil, Russia, S. Africa, S. Korea, Indonesia South and West India.
r: revised AMNS India awaits forest/environment clearance for its
Source: International Stainless Steel Forum (ISSF) 12 Mtpa Greenfield steel project in Odisha.
Indian stainless steel output up 29% in FY22 to 3.5 Mt. Shyam Metallics Q4 PAt rose 12%YoY to 433 crore.
they have reported that80-85% of their exports not
INDIAN STEEL SCENARIO affected by steel duty hike.
In FY22, India’s steel consumption was at an all-time Parmeshwar Group has commissioned a fully integrated
high of around 106 Mt, while the country produced a steel plant. Report suggests revival of Ramswarup
record 120 Mt crude steel, Kulaste said. Industries under New Owners. NCLT approved scheme
the sector is growing at a compound annual growth of Arrangement for Mukund. tata tinplate plans to add
rate (cAGR) of around 5 to 6 % on a year-on-year 300 Kt capacity in 3 years.
basis. Indian per capita steel consumption grew by Steel Exports and Recent Duties Imposition
10% to 77 Kg in 2021.
India exported 13.5 Mt of finished steel valuing Rs 1
Table 3: Performance of Indian steel industry: April lakh crore in the last financial year and imported steel of
2022(Mt) around Rs 46,000crore during FY22, Minister of Steel
Faggan Singh Kulaste has said. According to official
Item April % Change
2022 April ‘22/21 data, India’s finished steel exports were at 10.78 Mt in
Finished steel production 9.350 0.9 2020-21.
export of finished steel 0.743 -21.9 the Union government in an attempt to improve
Imports of finished steel 0.327 -10.1 domestic steel availability and reign in steel prices
has recently reduced import duty on raw material and
consumption of total 9.049 1.0
finished steel imposed export duty on finished steel and pig iron amid
tepid demand during the seasonally weak monsoon
*All figures provisional quarter whichcould lead to 10-15% correction in
Source: JPC domestic steel prices in the coming months.
Performance & New Projects of Indian Steel Plants the government’s decision to impose a 15% export

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