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Finished steel export of India slips 34% in Q1FY19

23 Jul 2018 Evaluate

The Joint Plant Committee (JPC), under the Ministry of Steel, in its latest report has said that finished steel export of India slipped 33.68% to 1.351 million tonnes (MT) in the first quarter (April-June) of current fiscal year (FY19), as compared to 2.037 MT finished steel exported in the same quarter of previous year. The JPC is the only institution in the country that collects and maintains data on domestic steel and iron industry.

According to the report, import grew by 10.9% to 1.893 MT in April-June quarter of 2018-19, compared to 1.707 MT in the year-ago period. The total output of finished steel for sale in the quarter under review stood at 26.720 MT, up 4.4% from 25.605 MT produced in the three-month period last year.

The JPC said the country’s consumption of total finished steel saw a growth of 8.4% in April-June 2018 at 23.422 MT as against 21.598 MT in the same period last fiscal, under the influence of a rising supply side as both production for sale and imports increased in April-June 2018 over same period of last year.

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