Indian Finished Steel Exports Surge 30% in Feb’19 - Govt Data
According to provisional data released by Joint Plant Committee (JPC) India’s finished steel exports stood at 0.619 MnT in Feb’19 jumped by 30% M-o-M basis as compared to 0.475 MnT in Jan’19.
Liquidation of inventories in Q3 FY19 have resulted in increase in steel export volumes in this quarter ahead fiscal year end.
As per bulk vessel export data maintained with SteelMint, major Indian steel manufacturers namely Bhushan Steel,JSW steel and Tata Steel have significantly raised steel coils exports in the month of Feb’19 as compared to Jan’19. Indian steel mills have majorly exported coils to Vietnam which is around 0.1 MnT in Feb’19 which was 0.078 MnT in Jan’19.
However on yearly basis Indian steel exports declined by 11% in Feb’19 as compared to Feb’18.
During Apr-Feb’19, Indian finished steel export volumes stood at 5.769 MnT, down by 35.3% Y-o-Y over similar time frame of previous year.
India finished steel imports fell by 9% in Feb’19 - India’s finished steel imports stood at 0.582 MnT in Feb’19 decline by 9% as compared to 0.638 MnT in Jan’19.
On yearly basis the same moved up by 6.4% in Feb’19 over Feb’18.
During Apr-Feb’19 nation’s finished steel imports stood at 7.129 MnT up by 2% against corresponding time frame of previous year.
India’s crude steel output inch down by 3% in Feb’19- According to provisional data released by Joint Plant Committee (JPC) Indian crude steel output stood at 8.914 MnT in Feb’19 inch down by 3% as compared to 9.18 MnT in previous month.
However on yearly basis the same moved up by 4.3% in Feb’19 over Feb’18.
During Apr-Feb’19 nation’s crude steel output stood at 97.151 MnT, registering growth of 4% against similar time frame of previous year.
SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 58.614 MnT crude steel during Apr-Feb’18-19 higher by 9% compared to similar time frame of previous year.
India’s consumption of finished steel inch down by 2% in Feb’19- India’s finished steel consumption stood at 8.486 MnT in Feb’19 inch down by 1.9% to 8.58 MnT in Jan’19.
Meanwhile on yearly basis the same witness increase of 9% in Feb’19 over Feb’18.
During Apr-Feb’19 nation’s finished steel consumption grew by 7.4% to 88.12 MnT as compared to similar time period of previous year.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
