Steel makers clock year-on-year increase in production

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20210707/1625642678174709.png" title="1625642678174709.png" alt="8.png"/></p><p>India&#39;s top steelmakers are seeing a healthy year-on-year increase in production on the back of a low base in the first quarter of last year, but the slump in domestic demand means they must continue with exports to keep inventory low.<br/><br/>Tata Steel has reported a 55% jump in production in Q1 of FY 22 to 4.62 MT.<br/><br/>&quot;Tata Steel&#39;s automotive and special products&#39; segment deliveries increased by around seven times year-on-year against the estimated three times yoy increase in automotive OEM&#39;s production in Q1 of FY22,&quot; the company said, adding that its branded products and retail segment deliveries were higher by 112%.<br/><br/>Industrial production, including that in the steel sector, was badly impacted last year after the outbreak of Covid-19.<br/><br/>Among other steel plants, JSW Steel has reported a 10% jump in production in May. However, the company has increased long&nbsp;steel production&nbsp;to 55%, denoting a recovery in infrastructure and construction.<br/><br/>Jindal Steel and&nbsp;Power has reported a 31%YoY rise in steel production to 13.71 lakh tonnes during April and May.<br/><br/>ArcelorMittal Nippon Steel&nbsp;India&#39;s production in April-June was around 1,831 kilo tonne, up 50.45% from year-ago quarter.</p>