Steel Output in India Grows Most in Year After Imports Decline
- Production jumps 12%, while consumption rises 1%: data
- Imports slump 36% after the government extended curbs
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Steel production in India climbed the most in at least a year as producers fire up capacity in expectation of growing demand in Asia’s third-biggest economy.
Output in August advanced 12 percent to 8.24 million metric tons from a year earlier, the biggest gain since at least August 2015, according to monthly data provided by the Steel Ministry. Demand in the world’s third-biggest producer rose 1 percent to 6.97 million tons, while imports tumbled 36 percent to 619,000 tons.