Production and consumption of steel rises

The increase in consumption of steel is being seen as a positive indicator for the economy.

Riding on good demand from the automobile and consumer durable sectors the country witnessed an increase in the production and consumption of steel during the first four months (April to July) of the current fiscal year.

According to the provisional figures released by Ministry of Steel production during the 4 month period was 18.77 million tonnes up by 3.8% while consumption was 17.31 million tonnes showing an increase of 5.8% over the same period last year.

Everyone hopes this positive trend continues in the months to come.