India’s crude steel output dropped by 25.9pc in April-August to 34.272mn mt from 46.228mn mt in the prior-year period. The country’s hot metal, pig iron, and sponge iron output also declined by 21.6pc, 36.9pc, and 24.6pc, respectively.

 

Total finished steel production in India slipped by 30.9pc to 30.080mn mt during the period under review from 43.515mn mt in April-August 2019. Finished steel consumption declined by 35.5pc to 27.435mn mt in the same period. 

 

Imports of finished steel fell by 51.7pc to 1.667mn mt in April-August 2020 from 3.453mn mt in the prior-year period. Mumbai was the major importer of finished steel amounting to 446,900mt, down by 59.5pc from 1.10mn mt in the prior-year period. 

 

Based on country-wise imports to India from other countries, Korea emerged as the largest exporter of finished steel with shipments of 665,700mt, down by 47.8pc from 1.27mn mt in the prior-year period. Here are the other top countries to export finished steel to India:

 

Top steel exporters to India (000’ mt)

Country  Apr-Aug 2020Apr-Aug 2019Pc Change
China386.6588-34.3%
Japan209.4597.9-65%
Germany77.781.6-4.7%
Indonesia52266.6-80.5%
Others275.5643.9-57.2%

 

Steel exports from India, however, rose by 94.8pc in April-August 2020 to 5.680mn mt from 2.917mn mt in the prior year. HRC was the most exported item, accounting for 74pc of the total non-alloys share. China was the biggest importer of Indian steel with shipments of 1.689mn mt being exported from India to its eastern neighbor in April-August 2020. Here are the other countries that made large imports of Indian steel during the period:

 

Top importers of Indian steel (000’ mt)

CountryApr-Aug 2020Apr-Aug 2019Pc Change
Vietnam1519681.6122.9%
UAE445.1349.527.4%
Italy276.3254.88.4%
Nepal224.1417.946.4%
Others1527.3121126.1%

 

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