Finished steel exports surge 17% in FY18
India’s total export of finished steel increased by 16.7% to 9.621 million tonnes (MT) in 2017-18, according to an official data. The Country had exported 8.242 MT finished steel during 2016-17 fiscal, the Joint Plant Committee (JPC) said in a report.
Empowered by Ministry of Steel, JPC is the only institution which collects data on the Indian iron and steel industry.
“Import of total finished steel was at 7.482 mt in April-March 2017-18, up by 3.5 per cent over same period of last year, in which contribution of the non-alloy steel segment stood at 5.636 MT, while the rest was the contribution of the alloy steel segment, including stainless steel,” the JPC said.
India’s total production of finished steel during the just concluded fiscal grew 3.1% to 104.966 MT.
“The production for sale of total finished steel at 104.966 MT, registered a growth of 3.1 per cent during April-March 2017-18 over same period of last year, in which contribution of the non-alloy steel segment stood at 95.004 MT, while the rest was the contribution of the alloy steel segment including stainless steel,” the report.