Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production update.
World crude steel production was 1,347.4 Mt in the first nine months of 2020, down by 3.2% compared to the same period in 2019. Asia produced 1,001.7 Mt of crude steel in the first nine months of 2020, an increase of 0.2% over the same period of 2019. The EU produced 99.4 Mt of crude steel in the first nine months of 2020, down by 17.9% compared to the same period in 2019. Crude steel production in the C.I.S. was 74.3 Mt in the first nine months of 2020, down 2.5% compared to the same period in 2019. North America’s crude steel production in the first nine months of 2020 was 74.0 Mt, a decrease of 18.2% compared to the same period in 2019.
China produced 92.6 Mt of crude steel in September 2020, an increase of 10.9% compared to September 2019. India produced 8.5 Mt of crude steel in September 2020, down 2.9% on September 2019. Japan produced 6.5 Mt of crude steel in September 2020, down 19.3% on September 2019. South Korea’s crude steel production for September 2020 was 5.8 Mt, up by 2.1% on September 2019.
Germany produced 3.0 Mt of crude steel in September 2020, down 9.7% on September 2019. Italy produced 1.8 Mt of crude steel in September 2020, down 18.7% on September 2019. France produced 1.0 Mt of crude steel in September 2020, down 20.1% on September 2019. Spain produced 0.9 Mt of crude steel in September 2020, down 20.7% on September 2019.
Production in the C.I.S. is estimated to be 8.2 Mt in September 2020, down 0.3% on September 2019. Ukraine produced 1.7 Mt of crude steel in September 2020, down 5.4% on September 2019.
The United States produced 5.7 Mt of crude steel in September 2020, a decrease of 18.5% compared to September 2019.
Turkey’s crude steel production for September 2020 was 3.2 Mt, up by 18.0% on September 2019.
Brazil produced 2.6 Mt of crude steel in September 2020, up 7.5% on September 2019.
The INDIAN Steel unit is an IDEAL MODE OF RAISING CASH and MONEY LAUNDERING w/o limit ,even w/o mining activities.dindooohindoo
• Steel was subject to ED (Excjse Duty), which is a MODVAT able tax
• In a 20 million tons steel plant,2-3 % of production can be explained to the state as wastages, yields, input mix issues,variation in power factor ,deviations in material quality,vagaries of supply chain,production mix etc.
o 2% of 20 million tons is 5,00,000 tons,and the steel unit will NOT record that production in the logs and that production will be met from CPP and not from Grid Power (as power is a proxy for output).This production will be sold OFF the books
• If 4-5,00,000 tons of steel, is sold in cash – there is enough cash generated by the steel unit – and the steel is sold, free of VAT, to a user,who does not need VATABLE steel (as his product is VAT exempt or his supply chain is financed by cash)
o If inputs are bought in cash,then more and more steel can be sold, in cash –as the sales HAVE TO BE OFF THE BOOKS OF ACCOUNTS
The Steel unit makes the ED/GST invoice of the 5,00,000 tons of steel,for steel which has been sold already in cash (This is a paper sale – there is no movement of steel)
o THE ED/GST invoice (of the 500000 tons) is then sold by the steel unit,to a steel user, WHO CAN AVAIL OF THE VAT BENEFIT – AT SAY,40% OF THE VALUE OF THE VAT/GST INVOICE
THIS STEEL USER IS ACTUALLY USING STEEL BOUGHT IN CASH (but in the past he has recorded some steel product sale, like say a steel gate, in the books as a ED/VATable sale.TO OFFSET the VAT on that Sale – the steel user is BUYING this ED/VAT invoice from the Steel maker).If the steel user is buying a VAT component in an invoice of Rs 1 crore at 40%, he is paying Rs 40 lacs and using Rs 1 crore VAT credit to offset from HIS VAT LIABILITY – A super profit business ! Buying and Selling Paper)
• THE STEEL USER MAKES A WIRE TO THE STEEL MILL, AND THE STEEL MILLS PAYS THE CASH TO THE STEEL USER, FOR THE BASIC STEEL PRICE BILLED
• THE CASH PAID TO THE STEEL USER BY THE STEEL MILL, IS GENERATED FROM THE 500,000 TONS OF STEEL, SOLD IN CASH
o THIS SYSTEM OF TRADING IN CASH AND TRADING IN GST AND TDS INVOICES, IS A METHODOLOGY DEVELOPED BY MARWARIS, AND THE TAX POLICIES OF THE STATE, HAVE BEEN MADE, TO ALLOW AND PERPETUATE THESE METHODOLOGIES