Production and consumption of long steel products used in the Housing and Construction sector in the current year

Production and consumption of long steel products used in the Housing and Construction sector in the current year
GOVERNMENT OF INDIA
MINISTRY OF STEEL

LOK SABHA 

UNSTARRED QUESTION NO.1271
FOR ANSWER ON 09/02/2022

HOUSING AND CONSTRUCTION

1271. SHRI G.M. SIDDESHWAR

Will the Minister of STEEL be pleased to state:

(a) whether the Government has noticed that the housing and construction projects are staring at a slowdown for a few months wherein dealers and buyers reporting a shortage of long steel products such as rods, bars and wires;

HOUSING AND CONSTRUCTION

(b) if so, the details thereof;

(c) whether the shortage of above mentioned products are due to lack of availability of iron ore; and

(d) if so, the details of the measures the Government is planning to adopt to address the issue?

ANSWER
THE MINISTER OF STEEL

(SHRI RAM CHANDRA PRASAD SINGH)

(a)to(d): Details of production and consumption of long steel products used in the Housing and Construction sector in the current year, month-wise are given below which indicate that there is no shortage of long products domestically: -

Month

Total Long Products

(Bars, Rods, Structurals and Railway Materials)

Production

Consumption

April, 21

4835

4992

May, 21

4144

4264

June, 21

4477

4459

July, 21

4481

4381

August, 21

4935

4654

September, 21

4883

4603

October, 21

5088

4840

November, 21

4803

4469

December, 21

5243

5037

Total(Apr.-Dec., 21)

42889

41699

Source: Joint Plant Committee (JPC); Provisional; Value in Thousand Ton


The total production of long products from April, 21-Dec., 21 was more than the consumption. Further, several measures were taken by the Government towards availability of raw material and towards price stability, these included:-
(i) In Union Budget 2021-22, Customs Duty has been reduced uniformly to 7.5% on Semis, Flat and Long products of non-alloy, alloy and stainless steels. Further, Basic Custom Duty (BCD) on steel scrap has been exempted for a period up to 31st March, 2022. In addition to the above, Anti Dumping Duty (ADD) and Countervailing Duties (CVD) on certain steel products have also been revoked / temporarily revoked.

(ii) In Union Budget 2022-23, the Countervailing Duties (CVD) on stainless-steel products have been revoked. Also, Customs Duty exemption on stainless- steel scrap has been extended for another year, i.e., till 31.03.2023 to provide relief to the MSME secondary steel producers.

(iii) Increasing availability of iron and steel, which, inter-alia, includes (a) Mining and Mineral Policy reforms to enhance production/availability of iron ore and (b) early operationalization of forfeited working mines.

(iv) Notification of Steel Scrap Recycling Policy to enhance the  availability  of domestically generated scrap.

(v) To give relief to secondary and MSME sector steel industry engaged in Housing/Construction sector, TMT bars below 8 mm have been exempted from the purview of the Quality Control Order, as these are primarily used for non-critical applications.


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