Indian steel production fell 2% in August due to worsening epidemic

India’s total crude steel production in August this year was about 9.6 million tonnes, down 2.3% month-on-month, according to official statistics from India, mainly due to a worsening domestic Covid-19 epidemic.

In addition, the weather in India also affected construction work from June to mid-October, which could be another reason for the decline in crude steel production.

However, based on history, after mid-October, demand for steel will rise sharply, plus large government investments in infrastructure, some market participants believed that future demand could still be strong.

Resource: www.azovpromstal.com