According to provisional data released by Joint Plant Committee (JPC) India’s finished steel exports stood at 6.36 MnT ( alloy/stainless steel+non alloy) in FY’19 (Apr’18-Mar’19) fell sharply by 34% as compared to 9.62 MnT in FY’18 (Apr’17-Mar’18).
Indian steel mills majorly exports flat steel to European and South East Asian nations. European Union (EU) have imposed its restrictions on the imports of steel from India and this will continue until July 2021. Meanwhile competitive offers from China along with increased production of domestic integrated plant Formosa Ha Tinh resulted to decline in nation’s export volumes to Vietnam in FY19.
Also higher domestic steel prices (Apr’18- Dec’18) kept nation’s exports volumes on downside this fiscal.
Meanwhile on monthly premises the exports inched down by 5% in Mar’19 to 0.59 MnT against 0.62 MnT Feb’19.
However on yearly basis Indian steel exports declined by 16% to 0.592 MnT in Mar’19 as compared to 0.708 MnT in Mar’18.
India finished steel imports increase by 5% in FY’19- India’s finished steel imports stood at 7.84 MnT (alloy/stainless steel+non alloy) in FY’19 rose by 5% as compared to 7.48 MnT in FY’18.
Competitive landed cost of imports from Japan and Korea under FTA resulted in making India a net importer of steel last fiscal
Where as on monthly premises the imports have surged by 21% in Mar’19 to 0.705 MnT in comparison to 0.585 MnT in Feb’19.
Significant quantities of bulk vessel imports of HRC have been imported from Iran for March shipments. Towards end of Jan’19, SteelMint reported that Indian mills had booked the HRC from Iran at around USD 450-455/MT CFR basis for March shipments from Iran. This resulted to surge in nation’s flat steel imports last months.
On yearly basis the same accounted for 0.705 MnT in Mar’19 surge by 46% over 0.483 MnT in Mar’18.
India’s crude steel output inch up by 3% in FY’19- According to provisional data released by Joint Plant Committee (JPC) Indian crude steel output (alloy/stainless + non-alloy) stood at 106.37 MnT in FY’19, up by 3% as compared to 103.13 MnT in previous month.
SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 63.41 MnT crude steel during FY’18-19 (Apr-Mar) higher by 7% compared to similar time frame of previous year.
India’s finished steel consumption rose by 8% in FY’19- India’s finished steel consumption stood at 97.52 MnT in FY’19, move up by 8% against 90.71 MnT in previous fiscal.
On monthly premises the consumption of finished steel increased by 12% in Mar’19 to 0.946 in comparison to 0.841 MnT in Feb’19.
Meanwhile on yearly basis the same witnessed increase by 9% to 9.46 MnT in Mar’19 over 8.69 MnT Mar’18.
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