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Steel Consumption On Rise

While steel consumption had gone down during April it has picked up from May on wards.

Finished steel consumption for the period from April-July 2020 in comparison to the corresponding period last year presents a clear picture in this regard.
Minister Steel, Dharmendra Pradhan in a written reply in Rajya Sabha on 16 September has said that from May 2020 onwards there has been more steel consumption.
In April 2019 steel consumption was 73,33,000 Tons, which came down to 10,92,000 Ton in April, 2020.
In 2019 May steel consumption was 88,50,000 Ton, which was 47,20,000 Ton in May, 2020.
In 2019, June it was 85,89,000 Ton and in June 2020, it recorded 62,34,000 Ton.
July 2019 steel consumption was 85,73, 000 Ton and in July 2020 it came up to 74,05,000 Tons.
Minister Steel said that the National Steel Policy envisages achievement of 300 MTPA crude steel capacity by 2030-31.
Towards achievement of this goal Ministry of Steel has taken several initiatives.
Those include Domestically Manufactured Iron & Steel Products Policy for promoting procurement of Made in India steel by Government agencies.
Minister of Steel announced Steel Scrap Policy for enhancing availability of domestically generated scrap.
So far issuance of Steel Quality Control Orders for stopping non-standardized steel import and manufacturing. 113 SQCOs have so far been issued.
Steel Import Monitoring System (SIMS) for advanced registration of steel imports is put in place.
Minister of Steel has put in place the Draft Framework Policy to promote setting up of steel clusters having manufacturing units for value added steel, ancillaries, capital goods etc.
In order to ensure availability of raw material to the steel sector, Ministry of Steel has worked closely with Ministry of Mines and Ministry of Coal for auction and restart of expiring iron ore mines, extension of mining leases with Steel CPSEs, setting up of coking coal washeries by Coal India Limited (CIL) and BCCL, auction and allotment of coking coal mines and diversification of coking coal imports.
In the meantime Ministry of Steel has launched 'Purvodaya' initiative, encompassing development of Integrated Steel Hubs in Odisha, Jharkhand, Chhattisgarh, West Bengal and Andhra Pradesh.
Purvodaya aims to focus on development of the Eastern region by setting up green field and brown field steel plants for capacity addition, development of steel clusters near Integrated Steel Plants as well as demand centers and transformation of logistics and utilities infrastructure.
 


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