Kolkata– India’s steel imports declined by 37.3 percent in the first six months of the current fiscal and exports rose by 35.6 percent in the same period, according to an official report.
“Import of total finished steel at 3.594 million tonnes (mt) in April-September 2016-17 declined by 37.3 percent over same period of last year. Export of total finished steel was up by 35.6 percent in April-September 2016-17 (3.03 mt) over same period of last year,” said the reports of the Steel Ministry’s Joint Plant Committee.
In September only, imports fell by 46 percent to 0.611 mt over the same month the last year and exports were at 0.655 mt, up by a staggering 111 percent over same month last year. Compared to August, steel exports were down 3.5 percent in the last month.
The report said country’s consumption of total finished steel saw a growth of 2.5 percent in first half of the current fiscal at 40.561 mt over same period of last year.
Consumption in September only was 6.731 mt, up by 7.6 percent over the same month last year and declined by 7.7 percent over August 2016.
“Production for sale of total finished steel at 48.846 mt, registered a growth of 9 percent during April-September 2016-17 over same period of last year,” said the report.
Overall finished steel production for sale in September was at 8.042 mt, up by 10.5 percent over corresponding month last year. September production declined by 8.4 percent as compared to domestic output in August.