Steel imports up 50% in first three months; consumption up by 7.1%
Updated: Jul 13, 2015 04:55:34pm
New Delhi, Jul 13 (KNN) India’s steel imports surged over 53 per cent in the April-June quarter of the current fiscal.
Steel consumption however grew by 7.1 per cent to 20.10 million tonnes (MT) in the first quarter of 2015-16 helped by cheaper imports and increased production of saleable steel from countries such as China, Japan and Korea.
According to a data released by Joint Plant Committee (JPC), the total finished steel imports grew 53.1 per cent to 2.545 MT in April-June as compared to the year-ago period.
But imports in June 2015 were down 4.7 per cent at 0.873 MT from May. Compared to June last year, imports rose by 49.5 per cent.
Domestic steel consumption fell by 3.3 per cent in June this year to 7.175 MT against last month, but was up 6.6 per cent compared to June 2014, it added.
The export of total finished steel fell by 31.7 per cent in April-June 2015-16 to 0.991 MT against the year-ago period.
Exports in June increased by 14.1 per cent to 0.32 MT compared to May 2015, but decreased by 25 per cent against June 2014.
Production for sale of total finished steel registered a growth of 2.8 per cent at 23.71 MT during April-June compared to the same period of last fiscal.
In the first quarter of 2015-16, crude steel production grew by only 0.9 per cent to 22.511 MT against the same quarter of 2014-15. (KNN Bureau)
Steel consumption however grew by 7.1 per cent to 20.10 million tonnes (MT) in the first quarter of 2015-16 helped by cheaper imports and increased production of saleable steel from countries such as China, Japan and Korea.
According to a data released by Joint Plant Committee (JPC), the total finished steel imports grew 53.1 per cent to 2.545 MT in April-June as compared to the year-ago period.
But imports in June 2015 were down 4.7 per cent at 0.873 MT from May. Compared to June last year, imports rose by 49.5 per cent.
Domestic steel consumption fell by 3.3 per cent in June this year to 7.175 MT against last month, but was up 6.6 per cent compared to June 2014, it added.
The export of total finished steel fell by 31.7 per cent in April-June 2015-16 to 0.991 MT against the year-ago period.
Exports in June increased by 14.1 per cent to 0.32 MT compared to May 2015, but decreased by 25 per cent against June 2014.
Production for sale of total finished steel registered a growth of 2.8 per cent at 23.71 MT during April-June compared to the same period of last fiscal.
In the first quarter of 2015-16, crude steel production grew by only 0.9 per cent to 22.511 MT against the same quarter of 2014-15. (KNN Bureau)
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