SME Times News Bureau | 09 Jan, 2017
India's steel exports rose by 92 percent in December and the country shipped out 4.977 million tonnes of steel in April-December period of the current fiscal, up 57.8 percent from the same period last year, a steel ministry report said.
"Exports of total finished steel were up by 57.8 percent in April-December 2016-17 at 4.977 mt over same period last year. Exports in December 2016 at 0.748 mt were up by 92 percent over December 2015, and up by 13 percent over November 2016," said the Joint Plant Committee report.
Imports of total finished steel in the first nine months of the current fiscal declined by 37.4 percent to 5.495 mt over the same period last year and in December imports were 0.761 mt, down by 23.2 percent over same month last year.
According to the report, India's consumption of total finished steel at 61.517 mt saw a growth of 3.3 percent in April-December period in 2016-17.
Consumption in December at 7.225 mt was up by 5.2 percent over corresponding month last year and by 17.1 percent over November in 2016.
"Production for sale of total finished steel at 73.771 mt registered a growth of 10.5 percent during April-December in 2016-17 over same period of last year. Overall finished steel production for sale at 8.416 mt in December was up by 12.4 percent over December 2015 and by 11 percent over November 2016," the report added.