India's steel consumption grew by a moderate 1.3 per cent to 48.62 million tonnes during the April-November period of current fiscal on lingering effect of the economic slowdown and slow growth in production.
India's steel consumption grew by a moderate 1.3 per cent to 48.62 million tonnes during the April-November period of current fiscal on lingering effect of the economic slowdown and slow growth in production.
The country, the world's fourth largest steel producer, had consumed 48 MT steel in the corresponding period of the last fiscal, Joint Plant Committee (JPC), a unit under Steel Ministry, said today.
"The slow growth numbers appear to reflect the lingering effect of the economic slowdown and is further depressed by the slow growth in production for sale in April-November, 2014 as compared to the same period of last year," it said in a note sent to the Ministry.
Domestic real consumption of steel in November 2014 at 5.488 MT was down by 9 per cent compared to October. Year-on-year, it increased by 8 per cent, it said.
Production of crude steel during April-November period of the current fiscal was higher by 2.5 per cent at 55.29 MT to which main producers SAIL , RINL, Tata Steel , Essar, JSW and & JSPL together contributed 29.769 MT. The rest produced 25.52 MT during the period.
The production in November at 6.81 MT was higher by 3.5 per cent over the same month last year.
Export of total finished steel was down by 5.3 per cent during the first eight months of the current fiscal at 3.5 MT over the same period last year.
Also Read: WTO issues mixed ruling in Indian challenge on steel duties
Imports, however, zoomed to 5.5 MT, a 49 per cent growth during the April-November period. "India remained a net importer of total finished steel in April-November, 2014," JPC said.
SAIL stock price
On December 09, 2014, Steel Authority of India closed at Rs 79.45, down Rs 2.85, or 3.46 percent. The 52-week high of the share was Rs 112.90 and the 52-week low was Rs 54.05.
The company's trailing 12-month (TTM) EPS was at Rs 5.24 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 15.16. The latest book value of the company is Rs 103.30 per share. At current value, the price-to-book value of the company is 0.77.
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