HR Steel production by ISA
member companies up by 4% in Q1 ‘04-05
Domestic sales climb by 17 % while steel exports register a 21 %
fall,
Adequate quantities of flat steel available in the domestic market – ISA
New Delhi, July 23, 2004 : Indian Steel Alliance (ISA)
today said that sufficient quantities of HR flat steel were available in the domestic
market. Releasing the production, sales & exports figures for the first quarter of
2004-05, ISA stated that production of HR steel rose steadily by 4% (increase of 0.11
Mn.T.) to 3.14 Mn.T. during the first quarter of 2004-05 as compared to 3.03 Mn.T. during
same period last year. Domestic sales were also up significantly, by 17% (increase of 0.36
Mn.T.) to 2.39 Mn.T. from 2.03 Mn.T. last year. Due to enhanced supplies to the domestic
market, exports witnessed a major dip of 21% (decrease of 0.16 Mn.T.) to 0.60 Mn.T. during
first quarter of 2004-05 from 0.76 Mn.T. same period last year.
Commenting on the increase in production of HR steel, Indian Steel
Alliance said, “Domestic industry has always been a priority for ISA and current
demand-supply position only establishes the efforts of ISA member companies, in this
regard. Efforts have always been made to match increased domestic requirements by
augmenting production levels.”
ISA further added,” The steel industry being a strategic sector,
its development is in the interest of the nations’ economy. If the industry has to
grow to meet the future demand targets of 55-60 million tones by 2010, issues confronting
the steel sector need be addressed on a priority basis. The non-availability of quality
raw materials and the high cost of capital is still a matter of great concern to the
Indian Steel Industry. We sincerely hope that the Government initiates policies that will
redress these critical issues. “ |
