Indian steel exports see a three-time increase in January

Indian steel export saw a three-time rise this January 2017 when compared with January 2016. The exports reached to 0.889 million tonne in this January from 0.274 million tonne in last January.

This hike in steel export is because of the support of the government in form of many trade measures like anti-dumping duty which is to support and protect the domestic steel industry.

The steel exports from April-January in this fiscal year reached to 5.865 million tonne in which is a rise of 71%.

Indian steel imports were 0.602 million tonne in January 2017. The steel imports were down by 41.7% when compared with January last year and by 21% from December 2016.

India’s consumption of finished steel also increased by 3.5% during the period of April-January 2016-17 reaching to 68.892 million tonne when compared with the consumption in the same period of last fiscal year.

The crude steel production of India in January 2017 also was up by 11.5% at 8.367 million tonne from production in January 2016 but was down by 0.4% when seen in comparison with the production figures of December 2016.

Original Source : http://www.importexportmarketing.in