India's Finished Steel Exports Double in Aug’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) surged on monthly basis and stood at 0.983 MnT in Aug’19 as compared to 0.460 MnT in the previous month.

Major Indian steelmakers had shifted their interest to exports amid seasonally weak domestic demand, higher inventories and poor sales volumes along with inactive trades prevailing in the domestic market.

As per data maintained with SteelMint Indian HRC bulk export shipments observed a sharp hike in Aug'19 according to port data maintained with SteelMint. Indian bulk HRC export shipments were recorded at 433,161 MT in Aug'19 against 148,600 MT in Jul'19. Vietnam accounted for the largest share of 33% in Indian bulk HRC export shipments. Meanwhile, Indian steel mills actively exported HRC to Far East Asia, Middle East, Nepal and Vietnam for Aug shipments. Also, mills actively booked billets for exports in Aug'19.

However on yearly premise, the same spiked up by 37% in Aug’19 as compared to 0.716 MnT in the same month of the preceding year.

During (Apr’19-Aug’19) FY’20 India’s finished steel exports stood at 2.46 MnT (alloy/stainless steel+non alloy) marginally down by 7% as compared to 2.64 MnT in similar time frame of previous fiscal.

India finished steel imports up by 11% M-o-M in Aug’19- India’s finished steel imports (non-alloy steel +alloy and stainless steel) stood at 0.856 MnT in Aug’19 moved up by 11% as compared to 0.772 MnT in Jul’19. On yearly basis, the same surged by 28% in Aug’19 over 0.671 in Aug'18.

India’s finished steel imports stood at 3.352 MnT (alloy/stainless steel+non alloy) in (Apr-Jul) FY’20, inched up by 1% as compared to 3.327 MnT in same time frame of FY’19.

India’s crude steel output fall by 2% M-o-M in Aug’19- Indian crude steel output stood at 8.996 MnT in Aug’19 moved down by 2% as against 9.151 MnT in preceding month. Mills lowered production on falling steel prices & high cost of production.

However on yearly basis, the same registered a marginal fall by 2% in Aug’19 as against 9.208 MnT in Aug’18.

In Apr-Aug FY’20 India’s crude steel output stood at 45.980 MnT marginally up by 2% as compared to 45.091 MnT in the corresponding period of previous fiscal.

India’s consumption of finished steel down by 3% M-o-M in Aug’19- India’s finished steel consumption stood at 8.617 MnT in Aug’19, registering a marginal decline by 3% as against 8.853 MnT in Jul’19.

Meanwhile on yearly basis, the same witnessed an uptick by 2% in Aug’19 over 8.473 MnT in Aug’18.

India’s finished steel consumption moved up by 6% and stood at 42.606 MnT in (Apr- Aug) FY’20 as compared to 40.080 MnT in the same time frame of previous fiscal.