Steel Ministry announced production of steel during fy 2022- 23
The Steel Ministry has announced the expected production of steel during FY 2022-23. Read on to learn more about this announcement and its potential impact on the industry.

Steel Ministry Announces Production of Steel During FY 2022-23
New Delhi- The Union Minister of State for Steel and Rural Development, Shri Faggan Singh Kulaste,gave information about steel production during FY 2021-22 and 2022-23 in a written reply in the Lok Sabha.
The Minister said Steel is a deregulated sector. Government has no role in commercial decisions such as import of steel or a particular type of steel by individual companies.
Read Also : THDCIL sign MoU for Water Sports High Performance Academy at TehriThe production and consumption of long steel products mainly used in real estate sector, i.e., Bars and Rods and Structurals are as given below: -
(In million tonne)
Year |
|
Bars & Rods |
Structurals |
2019-20 |
Production |
40.33 |
7.49 |
Consumption |
39.33 |
7.17 |
|
Import |
0.27 |
0.04 |
|
2020-21 |
Production |
37.17 |
6.49 |
Consumption |
39.68 |
6.56 |
|
Import |
0.14 |
0.03 |
|
2021-22 |
Production |
47.20 |
7.48 |
Consumption |
46.00 |
7.24 |
|
Import |
0.06 |
0.01 |
|
2022-23 (April-February)** |
Production |
45.97 |
7.63 |
Consumption |
45.17 |
7.32 |
|
Import |
0.11 |
0.01 |
|
Source: Joint Plant Committee (JPC); **Provisional |
The Production and Consumption of finished steel have increased in FY 2021-22 and 2022-23 as compared to pandemic periods during FY 2019-20 and 2020-21 as per the data given below: -
(In million tonne)
Total Finished Steel |
2019-20 |
2020-21 |
2021-22 |
2022-23 (April-February)**
|
||||
Prod. |
Cons. |
Prod. |
Cons. |
Prod. |
Cons. |
Prod. |
Cons. |
|
102.6 |
100.1 |
96.2 |
94.9 |
113.6 |
105.8 |
110.4 |
108.1 |
|
Source: Joint Plant Committee (JPC); **Provisional; Prod-Production; Cons-Consumption |
News Must Read
- THDCIL sign MoU for Water Sports High Performance Academy at Tehri
- NECC bags order from GAIL, Worth Rs.52 crore
- NHPC awards 3,000 MW solar projects to 8 bidders
- Oil giants NRL and OIL pump Rs 1 Cr & Rs 5 Cr into Assam's Plantation Drive
- BHEL wins Governance Now PSU IT Awards 2023
- BEML adjudged winner for CSR Leadership Award 2023
- Defence Ministry collaborates with ISB for scholarship to ex-servicemen
- Dahej Expansion Project Takes Flight with Bhumi Pujan Ceremony at Petronet LNG Limited
- Rajahmundry Airport: Gateway to Andhra's Heritage
- CDS Inaugurates HAL’s Avionics Expo 2023 in Delhi, Hails HAL’s Commitment towards Atmanirbharta