India’s semi- finished steel exports rose by 162pc in Oct 19 to 3,63,930 mt from the prior year, revealed data analysis by Davis Index.
In October, China’s semi-finished steel imports from India were the highest at 33pc or 118,928mt followed by Indonesia 16pc or 57,454mt, Nepal 15pc or 52,770mt, Sri Lanka 13pc or 46,121, Italy 6pc or 21,760mt, Thailand 6pc or 21,000mt and Malaysia 6pc or 20,032mt.
In the Oct 2018-September 2019 period, barring Aug 2019, China’s imports of semi-finished steel were nil. In August the country imported 17,010mt from India.
Indian mills shipped their material overseas in Oct with a fall in domestic demand and rupee depreciation. Value of INR, which was around Rs68.37 for US$1 in mid July 2019, fell to around Rs70.9 in Oct end.