India’s steel consumption grew by 4.6% to nearly 21 million tons in the first quarter of the current fiscal over the same period in 2016, while the country's steel exports jumped by nearly 66% in the April-June period. The overall consumption of steel was at 7.204 million tons in June was down by 4% over the previous month and was up by 5.3% over corresponding month last year.
Export of total finished steel was up by 65.9% in April-June 2017 at 1.387 million tons over same period of last year. Overall exports in June 2017 at 0.648 million tons was up by 0.9% over May 2017 but was up by 20.2% over June 2016. Meanwhile, the import of total finished steel at 1.715 million tons in June quarter declined by 6.4% over same period in 2016. Overall imports at 0.653 million tons in June was up by 17% over May and increased year-on-year by 3.2% over same month last year (June 2016).
India was a net exporter of total finished steel in April-June 2017. Production for sale of total finished steel at 26.309 million tons, registered a year-on-year growth of 6.7% during April-June 2017 and overall production for sale of total finished steel in June was at 8.826 million tons, down by 2% over May 2017 and up by 7.5% over June 2016.