News Room - Steel Industry

Steel exports fell 27 percent in April this year to 0.308 million tonnes(mt) while finished steel production in the country grew 3.2 percent to 7.48 million tonnes in the first month of the current fiscal, as per the steel ministry's latest report.

"Export of total finished steel was down by 27 percent in April 2016 (0.308 mt) over April 2015 and declined by 12 percent over March 2016," said the report of the ministry's Joint Plant Committee (JPC).

India imported 0.654 mt of total finished steel in April 2016, down 15.5 percent over the same month last year.

According to the provisional data released by JPC, production for sale of total finished steel at 7.487 mt, registered a growth of 3.2 percent during April over year-ago month.

"During April 2016, the ISP (integrated steel plants) producers produced 3.956 mt, which was a growth of 1.2 percent while production for the other producers was up by 3.3 percent," the report said.

The country's steel consumption posted a 5.2 percent growth in April 2016 at 5.75 mt over corresponding month last year.

The report pointed out steel consumption in April was down 29 percent as compared to March (2016) consumption under the influence of a declining supply side as both production for sale and imports declined.