India's Crude Steel Output Hits 102 MnT in FY18

According to provisional data released by Joint Plant Committee (Govt. of India) India's crude steel output stood at 102.19 MnT in FY17-18 (Apr'17-Mar'18) up by 4.3% as compared to 97.9 MnT in previous fiscal. With increasing crude steel output, India is heading closer to Japan which is currently world's 2nd largest steel producing country. SAIL, RINL, TSL, Essar, JSWL & JSPL together produced 59.266 MnT during this period which was a growth of 6.8% over same period of last year.

On monthly basis the same inched up by 7.5% in Mar'18 to 9.07 MnT against 8.43 MnT in Feb'18. However on yearly basis it was up by 3.6% compared to Mar'17.

India's finished steel exports surged 17% in FY18 - Nation has exported 9.6 MnT of finished steel in FY18 higher by 17% against 8.24 MnT in similar time frame of previous year.

On monthly basis the same moved up by of 2% in Mar'18 to 0.708 MnT against 0.695 MnT in Feb'18.However on yearly basis the same decline by whopping 56.3% in Mar'17.

India finished steel imports increased 4% in FY18 - Indian finished steel imports stood at 7.48 MnT in FY18 inched up by 4% against 7.22 MnT in FY17.Also on monthly basis the same moved up by 11% to 0.386 MnT in Mar'18 against previous month. However on yearly basis import volumes witness decline by 20% against Mar'17.

India's consumption of finished steel rose by 8% in FY18-Nation witnessed the improvement in finished steel consumption by 8% M-o-M basis which stood at 90.6 MnT in FY18 against 84 MnT in FY17.

In Mar'18 Indian finished steel consumption stood at 8.656 MT up by 9.7% over Mar'17 and was up by 9.5% over Feb'18.