steel production - Latest news GMK Center

India produced about 124.5 million tons of crude steel in 2022, while finished steel production stood at 117.8 million tons

In December 2022, supplies of steel raw materials to the country decreased by 8.1% m/m

Due to uncompetitiveness, the company will stop several factories that produce unprofitable products

Also, during the year, the enterprise carried out 638 planned and preventive repairs

The indicator fell by 6.3% compared to the second quarter of the 2022/2023 financial year

In 2022, pig iron production amounted to 6.39 million tons, and steel Ukrainian steelmakers produced 5.35 million tons of rolled steel in 2022 6.26 million tons

Steel exports in 2022 are expected to grow by 1% y/y

In December, steel imports into the country increased to a 3-year high – by 65% ​​y/y

Investments will be directed to the restart of production processes and ensuring employment and higher results of the enterprise

About 3.5 million tons will be needed for solar and nuclear power plants

The main reasons for the decline in steel production are low demand and high energy costs

The energy market regulatory body also reduced the maximum price of electricity on the free market to 4.2 thousand lira/MWh