Indian Finished Steel Exports Fall 27% Y-o-Y in Q1 FY20

According to provisional data released by Joint Plant Committee (JPC) India's finished steel exports (non alloy steel + alloy and stainless steel) stood at 1.015 MnT in Q1 FY'20 slumped by 27% as compared to 1.397 MnT in Q1 FY'19.

Prime reasons behind fall in export volumes are - May day holidays in Vietnam which resulted to shrink in HRC exports volumes from India, Eid holidays and General assembly elections prevailing in India resulted to slowdown in trade activities for fewer days.

Along with this competitive HRC export offers from China attracted Vietnamese buyers which in turn squeezed Indian steel export volumes during Q1 FY'20. Also comparatively better realization in domestic market, kept Indian export volumes low.

On monthly basis Indian steel exports (non alloy steel + alloy and stainless steel) inched down by 6% in Jun'19 to 0.299 MnT as compared to 0.319 MnT in May'19.

Meanwhile on yearly premise the same slashed by 21% in Jun'19 as compared to 0.379 in Jun'18.

Crude steel output up 3% in Q1FY20- According to provisional data released by Joint Plant Committee (JPC) Indian crude steel output stood at 27.728 MnT in Q1 FY'20 inched up by 3% as compared to 26.824 MnT in Q1 FY'19.

However on monthly basis the same reported slight decline of 1% in Jun'19 to 9.3 MnT in comparison to 9.42 MnT in May'19.

Whereas on yearly premise the same moved up by by 4% in Jun'19 as against 8.976 MnT in Jun'18.

Finished steel imports fell by 9% in Q1 FY'20- India's finished steel imports (non alloy steel + alloy and stainless steel) stood at 1.724 MnT in Q1 FY'20 declined by 9% as compared to 1.897 MnT in Q1 FY'19.

Nation's finished steel import volumes reported decline amid low buying interest and lack luster demand prevailing among Indian buyers. In quarter Apr-June owing to scheduled General assembly elections and awaited announcement of safeguard duty kept trade activities subdued.

On monthly premise nation's finished steel imports ascended by 13% in Jun'19 to 0.604 MnT which was 0.534 MnT in previous month.

Whereas on yearly basis the same declined by 11% in Jun'19 over 0.679 MnT in Jun'18.

Consumption of finished steel up by 7% in May'19- India's finished steel consumption accounted for 25.187 MnT in Q1 FY'20 moved up by 7% over 23.584 MnT in Q1 FY'19.

On monthly basis finished steel consumption stood at 8.772 MnT in Jun'19 inched down by 2% to 8.941 MnT in May'19.

Meanwhile on yearly basis the same witnessed increase of 6% in Jun'19 over 8.245 MnT in Jun'18.