Indian Finished Steel Exports Decline 33% in Apr’19

According to provisional data released by Joint Plant Committee (JPC) India’s finished steel exports (non alloy steel +alloy and stainless steel) stood at 0.398 MnT in Apr’19 down by 33% on monthly basis as compared to 0.592 MnT in previous month.

Being the beginning of fiscal, Indian steel mills lowered their export volumes to Vietnam in Apr’19. End users in Vietnam were eyeing for lower HRC export offers from India amid weakening demand. Meanwhile competitive offers from steel mills in China and CIS led to decline in nation’s export volumes in Apr’19.

On yearly basis Indian steel exports (non ally steel +alloy and stainless steel) declined by 31% in Apr’19 as compared to 0.573 MnT in Apr’18.

In FY’19 India’s finished steel exports stood at 6.36 MnT ( alloy/stainless steel+non alloy) down sharply by 34% as compared to 9.62 MnT in FY’18 (Apr’17-Mar’18).

India finished steel imports reduce by 17% M-o-M in Apr’19- India’s finished steel imports (non ally steel +alloy and stainless steel) stood at 0.586 MnT in Apr’19 decline by 17% as compared to 0.705 MnT in Mar’19.

Resumption of business activities in China amid end of winter season pushed HRC export offers in upward direction. Meanwhile Japanese steelmakers are enjoying robust domestic demand from automakers and the construction sector pushed HRC export offers in Mar’19.This impacted imports of flat steel to India in Apr’19.

On yearly basis the same inched up by 2.2% in Apr’19 over Apr'18.

India’s finished steel imports stood at 7.84 MnT (alloy/stainless steel+non alloy) in FY’19 up by 5% as compared to 7.48 MnT in FY’18.

India’s crude steel output fell by 8% M-o-M in Apr’19- According to provisional data released by Joint Plant Committee (JPC) Indian crude steel output stood at 8.662 MnT in Apr’19 less by 8% as compared to 9.412 MnT in previous month.

However on yearly basis the same remained stable in Apr’19 at 8.65 MnT against Apr’18.

In Apr’19 SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 5.082 MnT of crude steel up by 0.6% while the rest 41 % was the share of the other Producers (decline of 0.6 %) during this period.

In FY’19 India’s crude steel output (alloy/stainless + non-alloy) stood at 106.37 MnT up by 3% as compared to 103.13 MnT in previous fiscal.

India’s consumption of finished steel reduce by 21% M-o-M in Apr’19- India’s finished steel consumption stood at 7.50 MnT in Apr’19 shrink by 21% against 9.48 MnT in Mar’19.

Meanwhile on yearly basis the same moved up by 6.4% in Apr’19 over Apr’18.

India’s finished steel consumption stood at 97.52 MnT in FY’19, move up by 8% against 90.71 MnT in previous fisca