Equity Tips:- India’s Crude Steel Production Jumps 2.46% In January - March Period

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India has registered a 2.46% rise in crude steel production in the last quarter of 2017-18. As per data compiled by the Joint Plant Committee (JPC), the country has produced 26.363 million tonnes (MT) of crude steel in January - March 2017-18 compared to production of 25.729 MT during the January-March period of 2016-17.

 

The country’s crude steel output stood at 8.778 MT in January 2018, as against 8.811 MT during the same month a year ago. In the following month, the production was at 8.506 MT, compared to 8.154 MT in February 2017. During last month, the output stood at 9.079 MT, higher from 8.764 MT in the same month previous fiscal.

 

India has set a production target of 300 MT by the year 2030. Last year, the Cabinet approved the National Steel Policy (NSP) that aims to achieve steelmaking capacity of 300 MT by 2030 with an additional investment of Rs 10 lakh crore.

 

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