While India’s consumption of finished steel observed a decline of 4%, M-o-M in July’17 although output increased by 4%.
According to provisional data released by Joint Plant Committee (Govt. of India) country’s crude steel output has reported an increase of 4% on monthly basis to 8.45 MnT in Jul’17 against 8.12 MnT in Jun’17 .
However on Y-o-Y basis, India’s crude steel output has moved up by 5% in Jul’17 against 8.08 MnT in Jul’16.
So far in FY18 (i.e Apr-Jul) nation’s crude steel production recorded a growth of 4% Y-o-Y.
India’s finished steel exports up by 19% M-o-M in Jul’17
India’s finished steel exports rose significantly by 19% M-o-M basis to 0.77 MnT in Jul’17 against 0.65 MnT in Jun’17. On yearly basis nation’s finished steel exports saw the drastic surge of whopping 64% in Jul’17 against Jul’16.
Indian became the net importer of finished steel in Jul’17
In the month of Jul’17 India became the net importer of total finished steel and imported 0.798 MnT ,scaling up by 23% against 0.65 MnT in Jun’17.On yearly basis imports jumped by 42.2% against Jul’16.
India’s consumption of finished steel declined 4% M-o-M in July’17
India’s finished steel consumption declined by 4%,M-o-M basis and was recorded at 6.91 MnT in Jul’17 against 7.20 MnT in Jun’17.However on yearly basis finished steel consumption increased by 4 % in Jul‘17 against Jul’16.
Leave a Reply