Indian crude steel has recorded the growth of 2.1%, Y-o-Y to 8.16 MnT in May’17 as compared to May’16, according to recently released provisional data by Joint Plant Committee (Govt. of India), In May’16 the same stood at 7.99 MnT.
However,on monthly basis nation’s crude steel showed marginal decline of 0.61% in May’17 against 8.11 MnT in Apr’17.
In first two months of this fiscal i.e. Apr & May’17 India’s crude steel output stood at 16.3 MnT, up 4.5% Y-o-Y.
Finished Steel Imports Up , Exports Down in May’17-India’s finished steel imports surged by whopping 10.7% to 0.55 MnT in May’17 against 0.50 MnT in Apr’17.On yearly basis also,nation’s imports was up by 2.4% in May’17 against May’16.
Whereas nation’s flat steel exports assessed at 0.64 MnT in May’17 down by 14% against 0.75 MnT in Apr’17.However on yearly basis India’s finished steel exports recorded drastic increase of 69% in May’17 against May’16.
India’s consumption of finished steel grew 19% M-o-M in May’17
India’s finished steel consumption increased significantly by 19%,M-o-M basis and was recorded at 7.4 MnT in May’17 against Apr’17.However on yearly comparison nation’s finished steel consumption increased by 1 % in May ‘17 against May’16.
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