According to provisional data released by Joint Plant Committee (Govt. of India) India’s finished steel exports shoot up significantly by 30% M-o-M basis to 1.012 MnT in Nov’17 against 0.778 MnT in Oct’17. Also on yearly basis nation’s finished steel exports increased sharply by 53.6% against in Nov’16.
So far in FY18 (till Nov’17) total finished steel exports increased 57.1% Y-o-Y to 6.639 MnT.
Crude steel production moved down by 4% M-o-M in Nov’17-
India’s crude steel production reported decline of 4% in Nov’17 MnT. Nation has produced 8.305 MnT in Nov’17 in contrast to 8.65 MnT in Oct’17.
However on yearly basis India’s crude steel output recorded the growth of 3.6% in Nov’17 over Nov’16.
In the time period of (Apr-Nov’17) nation’s crude steel production assessed at 66.70 MnT up by 4.5% against similar time span of preceding year
Finished steel imports to India inched up by 1.7% M-o-M in Nov’17–
In the month of Nov’17 India imported 0.61 MnT, slightly up by 1.6% on monthly basis against 0.6 MnT in Oct’17.However on yearly basis imports jumped by 2.5% compared to Nov’16.Although Indian finish steel import volumes have started falling but it has continued to maintain the status of net exporter in Nov’17 and also during Apr-Nov’17.
So far in FY18 (till Nov’17) total finished steel imports surged by 16.9% Y-o-Y to 5.534 MnT.
India’s consumption of finished steel slumped by 14% in Nov’17-
Nation witnessed drastic fall in finished steel consumption by 14.3%,M-o-M basis and was recorded at 6.412 MnT in Nov’17 against 7.486 MnT in Oct’17.However on yearly basis finished steel consumption increased by 2% in Nov’17 against Nov’16.
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