India's Finished Steel Exports Drop 31% M-o-M in October - Govt. Data

According to provisional data released by Joint Plant Committee (Govt. of India) India's finished steel exports decline significantly by 31% M-o-M basis to 0.77 MnT in Oct'17 against 1.11 MnT in Sep'17. However on yearly basis nation's finished steel exports increased sharply by 44.9% against in Oct'16.

So far in FY18 (till Oct'17) total finished steel exports increased 57.7% Y-o-Y to 5.626 MnT.

Monthly average Indian HRC export offers were assessed at USD 568/MT, FoB in Oct'17 against USD 592/MT, FoB in Sept'17.

Crude steel production up by 3% M-o-M in Oct'17
India's crude steel production witnessed the growth of 3% in Oct'17 MnT.Nation has produced 8.65 MnT in Oct'17 as compared to 8.39 MnT in Sep'17.

However on yearly basis India's crude steel output recorded the growth of 5.2% in Oct'17 over Oct'16.

In the time period of (Apr-Oct'17) nation's crude steel production assessed at 58.41 MnT up by 4.7% against similar time span of preceding year

Finished steel imports to India plunged 26% M-o-M in Oct'17-
In the month of Oct'17 India imported 0.6 MnT, drastic fall of whopping 26% against 0.81 MnT in Sep'17.However on yearly basis imports jumped by 11.5% compared to Oct'16.Although Indian finish steel import volumes have started falling but it has continued to maintain the status of net exporter in Oct'17 and also during Apr-Oct'17.

So far in FY18 (till Oct'17) total finished steel imports increased 18.9% Y-o-Y to 4.916 MnT.

According to market sources report to SteelMint, HRC booked from Japan and South Korea in early Aug'17, arrived at Indian ports in Oct'17.

India's consumption of finished steel inched up in Oct'17-
Nation saw slight growth in consumption by 1%,M-o-M basis and was recorded at 7.486 MnT in Oct'17 against 7.449 MnT in Sep'17.However on yearly basis finished steel consumption increased by 5.5% in Oct'17 in contrast to Oct'16.

So far in FY18 (till Oct'17) total finished steel consumption was up by 4.5% to 50.337 MnT.