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Finished steel production dropped by 5 per cent November to 9.5 mt versus October where it was 9.9 mt. Variation in stock went up month-on-month to 1,49,000 tonnes, up 40 per cent, a report by the Steel Ministry
New Delhi, December 13 The country’s steel exports fell 53 per cent (nearly halved) year-on-year in November to 3,38,000 tonnes because of weakened global cues perpetuated by downturn in the metal cycle while mills here cut back on production indicative of the slowing down demand.
Finished steel production dropped by 5 per cent November to 9.5 mt versus October where it was 9.9 mt. Variation in stock went up month-on-month to 1,49,000 tonnes, up 40 per cent, a report by the Steel Ministry, accessed by businessline showed.
Variation in stock is the difference between opening and closing stock indicative of the fact that mills are unable to liquidate offerings quickly because of slowing demand.
Source : https://www.thehindubusinessline.com/companies/indian-steel-mills-cut-production-in-november-on-slowing-demand-fall-in-exports/article66258156.ece