Steel exports up by 142 per cent
Steel exports saw a 142% jump in April to 0.747 million tonnes (MT) over the corresponding month a year-ago, amid steps to safeguard domestic industry. The government has provided extensive support to domestic steel industry by way of various trade remedial measures including anti-dumping.
“Export of total finished steel was up by 142% in April 2017 (0.747 MT) over April 2016 and declined by 54% over March 2017,” Joint Plant Committee, a body under the Ministry of Steel said in its latest data. Import of total finished steel saw a dip of 23% in April to 0.504 MT over the corresponding month a year-ago. Imports during the month also declined by 16% over March 2017.
“India was a net exporter of total finished steel in April 2017,” the report said. Production for sale of total finished steel at 8.43 MT registered a growth of 8.7% during April 2017 over April 2016 but was down by 8.6% over March 2017. SAIL, RINL, TSL, Essar, JSWL and JSPL together produced 4.786 MT during April 2017 which was a growth of 11% over April 2016.
The rest of the 4.478 MT steel produced during the month came from the other producers, which was a growth of 6% over April 2016. “India’s consumption of total finished steel saw a growth of 3.4% in April 2017 at 6.015 MT over April 2016 but declined by 22% over March 2017, under the influence of a declining supply side as both production for sale and imports declined in April 2017 over March 2017,” the report said.
During the month, crude steel production was 8.107 MT, a growth of 5.4% over April 2016 but was down by 2.7% over March 2017.