Go to List

India's finished steel imports rise by 2.4% m-o-m in Sep'24: JPC

...

Finish Flat
By
381 Reads
7 Oct 2024, 18:05 IST
India's finished steel imports rise by 2.4% m-o-m in Sep'24: JPC

  • Imports increase at a slower pace

  • Crude, finished steel production fall

  • Finished steel consumption falls

The Joint Plant Committee (JPC) has reported that India's finished steel imports rose by 2.4% m-o-m in September 2024, reaching 0.985 million tonnes (mnt), up from 0.962 mnt in August. This marks a y-o-y surge of 78.1%, compared to 0.553 mnt in September 2023.

From April to September 2024, finished steel imports increased by 41.3% y-o-y, totalling 4.703 mnt, compared to 3.329 mnt during the same period in the previous year.

Finished steel exports rise m-o-m

India's finished steel exports increased by 15.3% to 0.396 mnt m-o-m in September from 0.343 mnt in August. However, exports decreased by 7.9% y-o-y from 0.430 mnt in September 2023, according to provisional data from the JPC.

The cumulative export volume for April-September 2024 declined by 35.9% y-o-y to 2.311 mnt, compared to 3.603 mnt during the same period of last year.

Crude steel production falls m-o-m

In September 2024, crude steel production experienced a decline, with output decreasing by 3.3% to 11.882 mnt compared to the previous month. Nonetheless, this figure reflects a y-o-y growth of 1.2% from the 11.745 mnt recorded in September 2023. From April to September, cumulative crude steel production rose by 3.7% y-o-y to 72.827 mnt, up from 70.229 mnt during the same period last year.

Finished steel production decreases m-o-m

India's finished steel production decreased by 1.3% m-o-m in September, reaching 11.674 mnt compared to 11.832 mnt in August. This represents a 1.4% y-o-y growth from 11.509 mnt in September 2023.

For the period of April-September 2024, cumulative finished steel production increased by 5.1% y-o-y to 70.865 mnt, up from 67.424 mnt during the same period of the previous year.

Finished steel consumption declines m-o-m

Finished steel consumption in India decreased by 2.5% m-o-m in September, reaching 12.293 mnt from 12.604 mnt in August. Y-o-y, consumption rose by 10.6%, compared to 11.120 mnt in September 2023. Total finished steel consumption for April-September climbed to 72.824 mnt, marking a 13.7% increase from 64.074 mnt recorded during the same period of the previous year.

7 Oct 2024, 18:05 IST

 

 

You have 1 complimentary insights remaining! Stay informed with BigMint
;