Source: Shanghai Metals Market
The Steel consumption in India during the initial quarter of the current fiscal year was seen to increase by 4.6 percent to about 21 million tons when compared to the corresponding period in 2016, while the steel exports has seen a significant hike to about 66 percent during April-June Period, as per the government report.
The report stated that “India's consumption of total finished steel saw a growth of 4.6 per cent in April-June 2017 at 20.999 mt over same period of last year, under the influence of a rising production for sale.”
Although the consumption has increased year on year, when compared to the same period in previous month the consumption was seen to decline by about 4 percent to 7.204 mt.
The imports of finished steel during June was seen at 1.715 mt, which decreased by about 6.4 percent when compared to the corresponding period in 2016. But when compared to the imports during May, an increase was seen by about 0.653 mt.