Latest News | India's Crude Steel Output Grows 4 Pc to over 125 MT in FY23For TodayIndia's Crude Steel Output Grows 4 Pc to over 125 MT in FY23: SteelMint '

New Delhi, Apr 23 (PTI) India's crude steel production rose by 4.18 per cent to 125.32 million tonnes (MT) in 2022-23, according to research firm SteelMint.

In the preceding 2021-22 fiscal, the country produced 120.29 MT of steel, the research firm stated.

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The production of finished steel was 121.29 MT, up 6.77 per cent from 113.60 MT a year ago.

Domestic consumption of steel rose by 12.69 per cent to 119.17 MT against 105.75 MT in 2021-22.

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A SteelMint analyst attributed increasing infrastructure activities to higher production and consumption of steel in India.

Steel exports fell by 50 per cent to 6.72 MT from 13.49 MT a year ago. Imports surged about 29 per cent to 6.02 MT in FY23 from 4.67 MT in 2021-22. The production of pig iron was at 5.85 MT in FY23, down 6.53 per cent from 6.26 MT in the preceding year.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)