Indian Steel Production Expected to Touch 55.5 m Tonnes 2007

Led by robust domestic demand, the steel sector in the country has been witnessing extraordinary growth, making India the fifth largest crude steel producer in the world as against eightth position held three years ago, according to a release.

Production of finished carbon increased from 35.41 million tonnes in 2002-03 to 49.58 million tonnes in 2006 -07.

During the first seven months of the current year, production of finished carbon is estimated at 29.37 million tonnes and is expected to touch 55.5 million tonnes in the current fiscal.

While exports have remained fairly stable between 2002-03 until last year, at around 4.5 million tonnes, imports have increased from 1.51 million tonnes in 2002-03 to 4.10 million tonnes, largely to fill the demand supply gap in the domestic market, the release added.

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