According to provisional data released by Joint Plant Committee (Govt. of India) country’s crude steel output has reported an increase of 4% on yearly basis to 8.44 MnT in Aug’17 against 8.14 MnT in Aug’16.
However on monthly basis, India’s crude steel output showed marginal rise of 1.3% in Aug’17 against 8.33 MnT in Jul’17.
So far in FY18 (till Aug’17) nation’s crude steel production surged by 3.5% Y-o-Y basis to 41.3 MnT.
India’s finished steel exports inched up by 20% M-o-M in Aug’17
India’s finished steel exports moved up significantly by 20% M-o-M basis to 0.92 MnT in Aug’17 against 0.77 MnT in Jul’17. On yearly basis nation’s finished steel exports witnessed hike of 36% against Aug’16.
So far in FY18 (till Aug’17) total finished steel exports increased 57% Y-o-Y to 3.73 MnT.
Finished steel imports to India increased 20% M-o-M in Aug’17–
In the month of Aug’17 India maintained the status of net importer of total finished steel and imported 0.96 MnT, up by about 20% against 0.79 MnT in Jul’17.On yearly basis imports jumped drastically by 62% over Aug’16.
So far in FY18 (till Aug’17) total finished steel imports increased 16% Y-o-Y to 3.46 MnT.
India’s consumption of finished steel moved up by 7% M-o-M in Aug’17
India’s finished steel consumption showed improvement.Nation witnessed rise in consumption by 7.3%,M-o-M basis and was recorded at 7.416 MnT in Aug’17 against 6.91 MnT in Jul’17.However on yearly basis finished steel consumption increased by 5% in Aug’17 in contrast to Aug’16.
So far in FY18 (till Aug’17) total finished steel consumption was up by 4% Y-o-Y to 35.33 MnT.
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