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17% RISE IN EXPORTS OF FINISHED STEEL IN FISCAL YEAR 2018

According to an authorized information, in 2017-2018, the finished steel total export of India increased to 9.621 MT (million tonnes) by 16.7%. Accredited by Ministry of steel, the only organization that collects data and information related to Indian iron and steel industry is Joint Plant Committee (JPC). According to report stated by Joint Plant Committee (JPC), about 8.242 MT finished steel exported during FY 2016-17. They further reported that in April-March 2017-18, total finished steel export moved up by 16.7 % at 9.621 MT over identical period of last year, where involvement of the non-alloy section mounted at 8.727 MT, while the other was the involvement of alloy steel that includes stainless steel as well.

In March 2018 and during alike month a year ago, from 1.621 MT to 0.708 MT (about 56.3%), the overall export toppled abruptly.

The total finished steel import in March 2018 ascended to 7.482 MT by 3.5 % juxtapose to 7.226 MT in the previous fiscal. During March 2018, the overall import clear-fell by 19.7 % to 0.482 MT, counter to 0.600 MT in the same month in 2017. Recently shown in April-March 2017-18, the import of whole finished steel was at 7.482 MT, increased by 3.5 % during same period last year. The contribution of the alloy steel segment that includes stainless steel excludes the involvement of non-alloy steel segmentation which stood at 5.636 MT and the rest alloy steel played the part. India’s production of total finished steel rose by 3.1% to 104.966 MT during the ended fiscal. During 2017-18, the private players like Tata Steel, JSW Steel, Essar Steel and Jindal Steel along with State-owned Rashtriya Ispat Nigam Ltd (RINL), Steel Authority of India Ltd (SAIL) and Power Ltd manufactured 62.626 MT. According to their statement, in March 2018, overall production for sale of total finished steel increased up by 5.7 % to 9.649 MT over March 2017.

• [Editor:janita]