Indian Steel Industry Performance Summary in FY16 (Apr-Dec’15)

During FY16 (Apr-Dec’15), Indian import, steel consumption and crude steel production registered a rise of 29.2%, 4.7% and 1.1% compared to the same duration of FY15. However, export fell by 29.7% Y-o-Y.

As per the Joint Plant Committee’s data analysis, Indian steel industry’s performance was marginally better during FY16 with regard to last fiscal. However, steel industry is still reeling under inbound shipments from China, Japan and South Korea and predatory pricing.

In context to crude steel production, India reported a rise of 1.1% Y-o-Y to 67.23 MnT during Apr-Dec’15 against the same period last year. The ISP producers viz SAIL, RINL, TSL, Essar, JSWL and JSPL collectively produced 35.23 MnT in FY16 (Apr-Dec’15) and registered a growth of 2.5% against FY15 (Apr-Dec’14). The remaining 32 MnT was produced by other producers, which was a fall of 0.4% Y-o-Y.

Meanwhile, Pig iron production for sale was 7.23 MnT; rose by 0.2% in contrast to the same period of last fiscal. The ISP producers together contributed 0.91 MnT (rise of 4.4% Y-o-Y) and the rest by others with decline of 0.5% Y-o-Y.

Indian steel scene during Apr-Dec’15

Provisional data
Source: JPC

Steel export, import and consumption

Indian steel import and consumption rose by 29.1% and 4.7% Y-o-Y during Apr-Dec’15. Whereas, export reported a fall of 29.7% in the same period.

While in Dec’15, export increased by 60.7% to 0.39 MnT against Nov’15 and fell by 18.6% compared to Dec’14. Meanwhile, import also surged by 22.8% from Nov’15 and fell by 1.4% against Dec’14.

India was a net importer of total finished steel in the current fiscal so far.

India’s consumption of total finished steel reported a growth of 4.7% to 59.08 MnT in Apr-Dec of FY16 with regard to the same period of last fiscal. In Dec’15, it increased by 17.3% (6.93 MnT) compared to Nov’15 and by 1.2% from Dec’14.