Introduction
Domestic crude steel production was 1,755,000 tonnes, and capacity was 77.4 percent. During the week ended March 6, 2020, production was 1,761,000 tons, and net capacity was 76.2 percent. This week's production fell 0.3 percent compared to the same period last year. Production for the week ending March 6, 2021, increased by 0.3 percent compared to the week ended February 27, 2021. The yield was 1,749,000 net tons, and the consumption rate was 77.2 percent
As of March 6, 2021, the gross domestic product was 16,112,000 tonnes, a 76.6 percent capacity. At a capacity of 81.5 percent, it was 7.6 percent less than the 17,435,000 net tons in the same period last year.
Wounded in the circuit This is a product of the thousands of tons of net tons that will be completed on March 6, 2021, Northeast 157; Great Lakes: 609; Midwest: 179; South 740 and West 70 in total 1755
India It is the world's second-largest steel producer in 2019 with 111.2 million tons of MT., a significant contribution to Indian production.
India's steel industry is modernized with modern steel mills. He has always strived to maintain the modernity of plants and to increase their energy efficiency.
The Indian steel industry is divided into major manufacturers, major manufacturers, and small producers.
Market size
India's finished steel consumption increased by 5.2 percent CAGR in the 2016 fiscal year to 100 tons in the 20th century. India's raw steel and finished steel production increased by FY20P to 108.5 MT and 101.03 MT, respectively. April 2020 and By November 2020, India's total crude steel production was 62.01 MT, and the finished steel was 55.68 MT. Export and import of finished steel in the fiscal year 2020, it stands at 8.24 MT and 6.69 MT.
Government initiative
The following are some of the recent government initiatives in this area.
• In December 2020, Minister of Petroleum, Natural Gas and Steel, Mr. Durmanndra Prada, called on the scientific community to innovate in India (I4I) and create competitive opportunities to transform India into "Aatmanirbhar."
• In September 2020, the Ministry of Iron and Steel developed a draft framework policy to develop steel clusters.
• October 1, 2020
• The government has introduced a waste metal recycling policy to reduce imports.
• 30% of the export duty requirement for the National Metal Industry Supply Guarantee applies to steel mines lumps (bumps and penalties).
• The Indian government is focusing on infrastructure and restarting road projects to meet the demand for steel. In addition, further acceleration of the rural economy and infrastructure development is expected to lead to the growth of steel demand.
• The Government of India has approved the National Steel Policy (NSP) 2017 as it seeks to create a world-class steel industry in India. NSP 2017 forecasts 300 million tons (MTA) steel production capacity and per capita steel consumption from 16030 to 2030-31.
• The Ministry of Steel is involved in R&D activities in the steel and metal industry in slavery and bullfighting. Two hundred kroner (the US $ 30 million).
• The Government of India has increased its import duty on most steel products by 2.5 percent each and has taken measures, including anti-drilling and protection measures on steel and steel products.
Prediction on the metal industry
As in the past and the past, planning for the metal industry next year is difficult given the changing global political climate. In the first half of the year, the projects of the World Steel Association will meet the growing demand around the world.
"While the global economic outlook is unpredictable, we expect 1.7% of iron ore demand to grow further in 2021, excluding developing and developing countries from China," he said. Given the current level of mistrust, this forecast faces serious risks.
In December, though, the time was up. In early 2021, steel prices are relatively stable compared to 2020. Prices are likely to increase in 2021, given the overall positive outlook for steel demand and the expected decline in Chinese steel production.
NK_2021
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