According to provisional data released by Joint Plant Committee (Govt. of India) India has exported 0.43 MnT of finished steel in May’18, down by 23% on monthly basis against 0.588 MnT in Apr’18.
However on yearly basis the same moved down by 33% over May’17.
Indian mills kept focusing on domestic sales rather than on exports over gains in domestic market. Also high prices in domestic markets and comparatively lesser realization in overseas has resulted in fall in export volumes.
India Crude Steel Production witness marginal rise in May’18 – India reported 8.928 MnT crude steel output in May’18 witnessing marginal rise by 2.7% on monthly basis against 8.692 MnT in Apr’18. However on yearly basis it has shown the growth of 9% in May’18 over May’17.
SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 10.336 MnT during May’18 which was a growth of 11% over May’17.
India’s finished steel imports increase by 4% M-o-M in May’18- Indian finished steel imports stood 0.62 MnT in May’18, up by 3.5% against 0.599 MnT in Apr’18. Also on yearly basis the same moved up by 11% in May’18 over May’17.
Indian importers remained active and have concluded few deals of HRC from Japan and South Korea for May shipments.
India’s consumption of finished steel moved up in May’18 – India witnessed constant improvement in finished steel consumption by 19% in May’18 to 8.33 MnT against Apr’18 over increased supply and rising import volumes.
Also on yearly basis the same depicted growth of 8.6% in May’18 over May’17.
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