The export of total finished steel was up by 142% in April 2017 and stood at 0.747 MT over April 2016 and declined by 54% over March 2017. As per data provided by Joint Plant Committee, a body under the Ministry of Steel, India was a net exporter of total finished steel in April 2017. The government has provided extensive support to domestic steel industry by way of various trade remedial measures including anti-dumping.
Import of total finished steel saw a dip of 23% in April and stood at 0.504 MT over the corresponding month a year-ago. Imports during the month also declined by 16% compared to March 2017. The production for sale of total finished steel at 8.43 MT registered a growth of 8.7% during April 2017 over April 2016 but was down by 8.6% over March 2017.
Further, the consumption of total finished steel saw a growth of 3.4% in April 2017 at 6.015 MT over April 2016 but declined by 22% over March 2017, under the influence of a declining supply side as both production for sale and imports declined in April 2017 over March 2017.