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India's crude steel output down by 10% YOY in 2020

Preliminary data from the JPC of India show that India's crude steel production in 2020 were 98.83 million tons, a decrease of 10% from 110 million tons in 2019.

The year-on-year decline in India's crude steel production in 2020 was mainly due to the 31% year-on-year decrease in India's crude steel production caused by pandemic prevention lockdown measures from April to July. During the lockdown, India's steel products production, demand and transportation decreased significantly. Although the situation recovered since August, it was still not enough to make up for the previous losses.

In 2020, India's steel products consumption was 87.46 million tons, down by 14% year-on-year; steel products exports were 10.2 million tons, up by 24% YOY; steel products imports were 4.65 million tons, down by 38% YOY.