Indian Finished Steel Export Volumes Shoot Up in Jul’19- Govt. Data
According to provisional data released by Joint Plant Committee (JPC) India’s finished steel exports (non alloy steel +alloy and stainless steel) doubled on monthly basis and stood at 0.461 MnT in Jul’19 as compared to 0.299 MnT in previous month.
Major Indian steel mills turned to exports as domestic sales fell back. Higher inventory levels and subdued demand in domestic market resulted to an increase in nation’s export volumes. Thus Indian steel mills have actively started exploring export options to South East Asia, Middle East and Nepal owing to seasonal slowdown in domestic steel market.
During (Apr’19-Jul’19) FY’20 India’s finished steel exports stood at 1.475 MnT (alloy/stainless steel+non alloy) down by 24% as compared to 1.926 MnT in previous fiscal.
India finished steel imports surged by 28% M-o-M in Jul’19- India’s finished steel imports (non ally steel +alloy and stainless steel) stood at 0.772 MnT in Jul’19 increased by 28% as compared to 0.603 MnT in Jun’19.
On yearly basis the same inched up by 2% in Jul’19 over 0.758 in Jul'18.
India’s finished steel imports stood at 2.496 MnT (alloy/stainless steel+non alloy) in (Apr-Jul) FY’20, marginally down by 6% as compared to 2.655 MnT in same time frame of FY’19.
India’s crude steel output remain stable M-o-M in Jul’19- Indian crude steel output stood at 9.23 MnT in Jul’19 remained stable as compared to previous month.
However on yearly basis the same registered a marginal increase by 2% in Jul’19 as against 9.059 MnT in Jul’18.
In Apr-Jul FY’20 India’s crude steel output stood at 36.847 MnT marginally up by 3% as compared to 35.884 MnT in corresponding period of previous fiscal.
India’s consumption of finished steel down by 2% M-o-M in Jul’19- India’s finished steel consumption stood at 8.368 MnT in Jul’19, registered a marginal decline by 2% as against 8.554 MnT in Jun’19.
Meanwhile on yearly basis the same witnessed an uptick by 4% in Jul’19 over 8.086 MnT in Jul’18.
India’s finished steel consumption moved up by 6% and stood at 33.258 MnT in (Apr-Jul) FY’20 as compared to 31.459 MnT in same time frame of previous fiscal.
source: SteelMint
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