According to provisional data released by Joint Plant Committee (JPC) India’s finished steel exports stood at 0.475 MnT in Jan’19 down by 20.2% M-o-M basis as compared to 0.395 MnT over Dec’18.
In the month of December weakening steel prices in global market led to lower steel exports from India. Also imposed protectionist measures in major countries attributed for decline in export volumes from India.
However on yearly basis the nation’s finished steel export volumes plunged by 23% compared to Jan’18.
During Apr-Jan’19, Indian finished steel export volumes stood at 5.149 MnT, down by 37.3% Y-o-Y.
India finished steel imports down by 5% M-o-M in Jan’19- India’s finished steel imports stood at 0.638 MnT in Jan’19 fell by 5.2% compared to 0.673 MnT in Dec’18. With comparative cheaper domestic prices in Indian market, import bookings remained limited.
However on yearly basis the same spiked by 79.2% in Jan’19 over Jan’18.
During Apr-Jan’19 nation’s finished steel imports stood at 6.548 MnT up by 1.5% against corresponding time frame of previous year and became the net importer of total finished steel in Apr-Jan’19. Indian based stockist have actively booked HRC from China, Japan, Korea, Ukraine & Iran in last month amid significant fall in global prices. This may lead to increase in steel import volumes in next month.
India’s crude steel output remained stable in Jan’19- Indian crude steel output stood at 8.995 MnT in Jan’19 remained largely stable against 9.011 MnT in Dec’18.
However on yearly basis the same decreased by 4% in Jan’19 over Jan’18.
During Apr-Jan’19 nation’s crude steel output stood at 88.052 MnT, moved up by 4% against similar time frame of previous year.
Meanwhile major steelmakers like SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 53.022 MnT crude steel during Apr-Jan’19 higher by 8.1% compared to similar time frame of previous year.
India’s consumption of finished steel increases by 6% M-o-M in Jan’19- India’s finished steel consumption increased by 6.2% to 8.411 MnT in Jan’19 against 7.922 MnT in Dec’18.
Meanwhile on yearly basis the same witnessed increase of 6.5% over Jan’18.
During Apr-Jan’19 finished steel consumption grew by 7.8% to 79.962 MnT as compared to similar time period of previous year.
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