RINL saleable steel production up 9% in April-August
Hyderabad: State-run Rashtriya Ispat Nigam Ltd today said it has registered 9 percent growth in saleable steel production to 1.21 million tonnes in April-August period of this year.
Production of saleable steel stood at 1.11 million tonne during the same period last year.
"In spite of difficult market conditions and sluggishness in domestic as well as global markets, the PSU achieved an impressive turnover of Rs 1,260 crore in August 13, its best for any August since inception, which is 17 percent higher than corresponding period last year," a press release said.
The company said proportion of special steel in total saleable steel sales stood at 80 percent during April-August 13 compared to 77 percent over last year.
RINL has taken several initiatives to strengthen the rural market with an aim to increase consumption of steel in rural areas and has appointed 630 rural dealers up to August 13, it added.
"Market analysis indicates that sluggishness is likely to continue in the medium term given the weak micro economic fundamentals in domestic economy and slow recovery in global markets," RINL said.