According to provisional data released by Joint Plant Committee (Govt. of India) , India has exported 0.516 MnT of finished steel in Jul’18, up significantly by 42% on monthly basis in Jul’18 in comparison to 0.364 MnT in Jun’18.
However on yearly basis the same registered drop by 33% in Jul’18 against Jul’17.
During Apr-Jul’18 nation’s finished steel exports stood at 1.868 MnT,down by 33% as compare to similar time frame of previous year.
Major Indian steel mills had shifted their interest to exports owing to subdued demand in domestic market, depreciating Indian currency against USD and falling Chinese steel export volumes have given enough room to Indian steel mills to cater to global market needs.
India’s crude steel output remain largely stable – India’s crude steel output remain largely stable on monthly basis in Jul’18 over previous month.
Nation reported 8.731 MnT crude steel output in Jul’18 as compared to 8.739 MnT in Jun’18.However on yearly basis the same went up by 6% in Jul’18 over corresponding month of previous year.
SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 20.905 MnT during Apr-July’18 higher by 13% compared to similar time frame of previous year.
India’s finished steel imports jumped by 12% M-o-M in Jul’18- Indian finished steel imports stood 0.759 MnT in Jul’18, jumped by 12% against 0.676 MnT in Jun’18.
Also on yearly basis the same moved up by 5% in Jul’18 over Jul’17.
During Apr-Jul’18,nation’s finished steel imports was at 2.655 MnT (Apr-June),moved up 6% over similar time frame of previous year.
Indian steel mills have booked few import bookings for HRC previously from Japan and South Korea for July shipments. Also significant quantities of coated steel have been booked from Vietnam and China to India.Thus this resulted to surge in import volumes.
India’s consumption of finished steel increases by 8% M-o-M in Jul’18- India’s finished steel consumption rose by 6% M-o-M to 7.56 MnT in Jul’18 as compared to 8.097 MnT in Jun’18.Also on yearly basis the same went down by 8.1% in June’18 over June’17.
India’s consumption of total finished steel saw a growth of 8.1% in April – Jul 2018.
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