Steel consumption declines
According to the latest data from the Joint Plant Committee (JPC), India’s steel consumption declined in July falling over seven per cent to 6.3 million tonnes (MT).Though, consumption of total steel in India grew marginally by 0.5 per cent in April-July 2016-2017 to 26.2 MT over same period of last year. The production in July stood at 8.1 MT, imports in July 2016 was down by 46 per cent and exports were up by 8.7 per cent in April-July at 1.7 MT as compared to same period of last year.
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