The Joint Plant Committee (JPC), under the Ministry of Steel, in its latest report stated that India’s finished steel exports declined by 33% to 4.30 lakh tonne (LT) in the month of May 2018, as compared to export of 6.42 LT in the same month of previous year. Besides, export was down by 23% as compared to April 2018.
On the other hand, the report showed that the country’s imports rose by 11% to 6.20 LT in the month under review, as against 5.58 LT in the year-ago-period.
As per the JPC data, the production of finished steel in May 2018 stood at 10.547 MT, up 6.7%, as against 9.886 MT in May 2017. India's consumption of total finished steel in month under review rose by 8.6% to 8.330 MT from 7.668 MT during the same month in 2017.