COMMODITY
India’s finished steel exports slip 37% in April-January of FY19
Feb-18-2019

The Joint Plant Committee (JPC), under the Ministry of Steel, in its latest report has stated that India’s finished steel exports fell 37.35% to 5.15 million tonne (MT) in the April-January period of the current financial year, as compared to exports of 8.22 MT during the corresponding period a year ago. Besides, in the January 2019, the exports stood at 0.47 MT, down by 22.95% from 0.61 MT in January 2018.

On the other hand, the total finished steel imports grew 1.55% to 6.55 MT during April-January of 2018-19, compared with 6.45 MT in the year-ago period. The report said India was a net importer of total finished steel in April-January 2018-19. Besides, imports stood at 0.638 MT in January 2019, up by 79.2% over January 2018.

As per the report, production of the total finished steel grew 4.4% to 109.18 MT during the ten month period of FY19, from 104.56 MT in the corresponding period of the previous fiscal. In January, the production of finished steel at 11.58 MT was up by 1.8% over January 2018.

During April-January 2018-19, India's consumption of the total finished steel saw a growth of 7.8% at 79.96 MT over the same period of last year, under the influence of a rising indigenous supply side. Consumption stood at 8.411 MT in January 2019, up by around 6% over January 2018. India has set a target of ramping up its steel production capacity and per-capita steel consumption to 300 MT and 160 kg, respectively, by 2030-31.

  RELATED NEWS >>