Indian finished steel exports declined drastically in the month of Apr’17 in comparison to Mar’17. According to provisional data released by Indian govt., Indian finished steel exports have fallen by 57% M-o-M basis from 1.52 MnT in Mar’17 to 0.65 MnT in Apr’17.
Exports volumes have started falling owing to decline in global prices and lesser buying inquiries from overseas buyers. Moreover, Chinese export offers remain competitive compared to Indian export offers which resulted in sharp fall in export volumes.
During the period of Jan-Mar’17 the nation’s finished steel exports were recorded at 3.03 MnT.
India’s Finished Steel Imports in Apr’17
Indian flat steel imports also plunged by 56% M-o-M basis to 0.37 MnT in Apr’17 as compared to 0.85 MnT in Mar’17. It is expected that flat steel imports to India may increase this month as good volumes were booked by Indian importers which are likely to arrive in May or Jun’17.
However during the period of Jan-Mar’17, India imported 1.34 MnT finished steel.
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