Indian Finished Steel Exports Drop 35% Y-o-Y During Apr-Nov'18 - Govt Data

According to provisional data released by Joint Plant Committee (JPC) , India's finished steel exports stood at 0.586 MnT in Nov'18 down by 2% M-o-M basis as compared to 0.596 MnT over Oct'18. However on yearly basis the same plunged by 42% in Nov'18 over Nov'17.

Through out the month of Oct'18, global steel export offers declined sharply in turn led to competitive offers for SE Asian nations and other countries as well compared to Indian mills. Indian mills focused on domestic trades but in the month of Nov'18, prices remained under pressure over dull sales and liquidity issues.

During Apr-Nov'18, Indian finished steel export volumes stood at 4.325 MnT, down by 35% Y-o-Y over similar time frame of previous year.

India's crude steel output inched up in Nov'18 - Indian crude steel output stood at 8.927 MnT in Nov'18 inch up by 2% as compared to 8.77 MnT in previous month. However on yearly basis the same inch up 4% in Nov'18 over Nov'17.

During Apr-Nov'18 nation's crude steel output stood at 69.969 MnT, registering growth of 5% against similar time frame of previous year.

SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 41.957 MnT crude steel during Apr-Nov'18 higher by 9% compared to similar time frame of previous year.

India finished steel imports decline by 5% M-o-M in Nov'18 - India's finished steel imports stood at 0.686 MnT in Nov'18 move down by 5% compared to 0.719 MnT in Oct'18. However it is expected that import volumes may rise in coming months on competitive offers from Japan and China

However on yearly basis the same moved up by 12% in Nov'18 over Nov'17.

During Apr-Nov'18 nation's finished steel imports stood at 5.406 MnT less by 2.3% against corresponding time frame of previous year.

India's consumption of finished steel reduced by 10% M-o-M in Nov'18- India's finished steel consumption move down by 10% to 7.50 MnT in Nov'18 which was 8.315 MnT in Oct'18.

Meanwhile on yearly basis the same witness the growth of 11% in Nov'18 over Nov'17.

During Apr-Nov'18 finished steel consumption grew by 8.2% to 63.49 MnT as compared to similar time period of previous year under the influence of a rising indigenous supply.