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Steel exports surge 224% in January

Kolkata, Feb 19: India’s steel exports jumped by 224 per cent in January and the country shipped out 5.865 million tonnes of steel in April-January period of the current fiscal — up by 71.1 per cent over the same period last year, a steel ministry’s report said.

“Exports in January 2017 at 889,000 tonnes was up by 224 per cent over January 2016 and was up by 19 per cent over December 2016,” said the Joint Plant Committee report.

Imports of total finished steel in the first ten months of the current fiscal declined by 37.8 per cent to 6.097 million tonnes over same period of last year and in January only, imports were at 0.602 million tonnes, down by 41.7 per cent over same month last year. According to the report, India’s consumption of total finished steel at 68.892 million tonnes saw a growth of 3.5 per cent in April-January period in 2016-17 over same period of last year. Consumption in January, 2017 at 7.349 million tonnes was up by 4.3 per cent over corresponding month last year and by 1.4 per cent over December, 2016.

“Production for sale of total finished steel at 82.874 million tonnes, registered a growth of 10.7 percent during April-January in 2016-17 over same period of last year. Overall finished steel production for sale at 8.911 million tonnes in January, 2017 was up by 10.2 per cent over January 2016 and by 3.5 per cent over December 2016,” the report added. (IANS)

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Ankur Kalita