According to provisional data released by Joint Plant Committee (Govt. of India) country’s crude steel output has reported increase of 4.3% on quarterly basis (Apr-Jun’17) to 24.7 MnT in contrast to 23.7 MnT in similar time period of previous year.
However on quartely premises i.e compared to Q4FY17, India’s crude steel output has come down by 5% in Q1FY18.
On monthly basis nation’s crude steel output has fallen marginally 8.29 MnT in Jun’17 against May’17.
India’s finished steel exports up 66% Y-o-Y in Q1 FY18-
India’s finished steel exports surged by whopping 66%, Y-o-Y basis to 1.38 MnT in Q1 FY18 over Q1 FY17. On monthly basis nation’s exports moved up marginally by 0.9% in Jun’17 to 0.65 MnT against May’17.
India’s finished Steel Imports Decline 6% Y-o-Y in Q1FY18
The finished steel imports declined by 6.4%,on yearly basis to 1.71 MnT in Q1 FY18 over same time period of financial year. On monthly basis imports showed the significant rise of 17% to 0.65 MnT in Jun’17 against May’17.
India’s consumption of finished steel grew 5% Y-o-Y in Q1 FY18
India’s finished steel consumption recorded a growth of 5%,Y-o-Y basis and was recorded at 20.9 MnT against similar quarter of last fiscal.However on monthly basis finished steel consumption decreased by 4 % to 7.2 MnT in Jun‘17 against May’17.
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