Kolkata: Steel exports fell 27% in April this year to 0.308 million tonnes (mt) while finished steel production in the country grew 3.2% to 7.48 million tonnes in the first month of the current fiscal, as per the steel ministry’s latest report.
“Export of total finished steel was down by 27% in April 2016 (0.308 mt) over April 2015 and declined by 12% over March 2016,” said the report of the ministry’s Joint Plant Committee (JPC).
India imported 0.654 mt of total finished steel in April 2016, down 15.5% over the same month last year.
According to the provisional data released by JPC, production for sale of total finished steel at 7.487 mt, registered a growth of 3.2% during April over year-ago month.
“During April 2016, the ISP (integrated steel plants) producers produced 3.956 mt, which was a growth of 1.2% while production for the other producers was up by 3.3%,” the report said.
The country’s steel consumption posted a 5.2% growth in April 2016 at 5.75 mt over corresponding month last year.
The report pointed out steel consumption in April was down 29% as compared to March (2016) consumption under the influence of a declining supply side as both production for sale and imports declined.