1 February 2019

India continues to reduce the volume of steel exports

In recent months, the Indian demand for steel products has grown significantly. This was reported by the Ministry of metallurgical industry of India. The expansion of demand occurs much more rapidly than production. Because of the metallurgical companies are forced to export less products. In the end, India again became a net importer of steel products.

Visible demand has become since April last year. In the period April-December it amounted to 71,86 million tons. Compared to the same period in 2017, the index rose 8.4%. The volume of production increased by 4.5%. He reached 97.36 million tons. This confirms that the demand far exceeds the supply. Such data leads research unit of the Ministry — Joint Plant Committee.

Most actively producing steel products steel six companies. That’s six largest steel companies in India. Is Essar Steel, JSW Steel, JSPL, Tata Steel, RINL, SAIL. In total they released 54,15 million tons of finished steel. This is an indicator for the period from April to December 2018. Compared to the same period in 2017, the result of more than 6.2%. However, small and medium enterprises the situation is somewhat different. They were able to increase production volumes of only 2.4%. In quantitative terms, they have released only 43.20 million tons.

In the past financial year, India played the role of a net exporter. In the current situation has changed. So the volume of exports for April-December 2018 amounted to 5.91 million tons. This is 3.1% lower than a year earlier. In November 2018, it exported about 340 thousand tons of steel. In December, the figure was 367 thousand tonnes. The November imports reached a score of 517 thousand tons. In December, imports amounted to 548 thousand tons.

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