India: Finished Steel Exports Fall 36% M-o-M in Jan’18

According to provisional data released by Joint Plant Committee (govt. of India),India’s finished steel exports were registered at 0.616 MnT in Jan’18 down by 36% over 0.96 MnT in preceding month.

Major Indian steel mills were holding HRC export offers during end of Nov’17 and early Dec’17 owing to price hike in domestic market. Manufacturers had raised domestic HRC prices by around INR 500-1000/MT in Dec’17.This resulted in lesser export bookings and in turn reduced export volumes in Jan’18.

Also,on yearly basis basis nation’s finished steel exports went down significantly by by 31% as compared to Jan’17.

However in the tenure of Apr-Jan’18 country’s finished steel exports stood at 8.222 MnT moved up by 40.2% against corresponding time frame of previous year.

Finished steel imports plunged by 40% in Jan’18 -In the month of Jan’18 India imported 0.335 MnT, down by 40.4% on monthly basis over 0.56 MnT in Dec’17.

Also,on yearly basis the same witnessed drop of 45% in Jan’18 over Jan’17.

However during ( Apr- Jan) FY19 Indian finish steel import volumes reported increase of 5.5% to 6.432 MnT against similar time frame previous year.

India’s crude steel output inch down in Jan’18-According to provisional data released by Joint Plant Committee (Govt. of India) India’s crude steel output stood at 8.778 MnT on monthly premise,which observed marginal decline of 0.2% in Jan’18 as compared to 8.79 MnT in Dec’17.

However on yearly basis the same went down by 0.4% against Jan’17.

Although nations’ crude steel output registered the growth of 4.2% in FY19 (Apr-Jan’18) over the similar time period of previous year.

India’s consumption of finished steel increased marginally in Jan’18-Nation witnessed slight improvement in finished steel consumption by 1%,M-o-M basis and was recorded at 7.629 MnT in Jan’18 against Dec’17.

However on yearly basis finished steel consumption increased by 7% against Jan’17.
So far in FY18 (Apr-Jan) country’s finished steel consumption rose by 5.4% to 72.497 MnT against similar time frame of previous year.