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.