According to provisional data released by Joint Plant Committee (Govt. of India) India has exported 0.55 MnT of finished steel in Apr’18, down by 15% on monthly basis against 0.65 MnT in Mar’18.
However on yearly basis the same moved down by of 25.2% over Apr’17.
Indian mills were offering limited quantities of exports over high domestic prices. Also flat steel exports remained low amid investigation of safeguard measures in European nations. Meanwhile Indian exporters remain inactive in Southeast Asian market since Vietnamese buyers are preferring Chinese material as they are more competitive in prices. Besides this, domestic production in Vietnam is expected to increase which may reduce the quantity of flat steel exports from India in the near term.
India finished steel imports increases two fold in Apr’18– Indian finished steel imports stood 0.599 MnT in Apr’18, up significantly by 55% against 0.386 MnT in Mar’18. Also on yearly basis the same moved up by 18.8% in Apr’18 over Apr’17.
Indian flat steel importers remained active since mills in domestic market were facing inventory pressures from past couple of months. Limited availability of material and improved demand in domestic market lead to increase in steel imports to India. Also global HRC prices fell sharply in mid of Mar’18.
India’s Crude Steel Output Decline 7% M-o-M in Apr’18- India has reported 8.591 MnT crude steel output in Apr’18, less by 7% M-o-M basis against 9.227 Mnt in Mar’18.
However on yearly basis it has shown the growth of 4.4% in Apr’18 over Apr’17.
SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 4.833 MnT during Apr’18 which was a growth of 9.2% over Apr’17.
India’s consumption of finished steel increases Y-o-Y in Apr’18 – India witnessed improvement in finished steel consumption 8.2% in Apr’18 over Apr’17 over increased production,improved demand and rise in import volumes.
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