Steel exports grow 92% in December

India's steel exports rose by 92 per cent in December and the country shipped out 4.977 million tonnes of steel in April-December period of the current fiscal, up 57.8 per cent from the same period last year, a steel ministry report said.

"Exports of total finished steel were up by 57.8 per cent in April-December 2016-17 at 4.977 mt over same period last year. Exports in December 2016 at 0.748 mt were up by 92 per cent over December 2015, and up by 13 per cent over November 2016," said the Joint Plant Committee report.

Imports of total finished steel in the first nine months of the current fiscal declined by 37.4 per cent to 5.495 mt over the same period last year and in December imports were 0.761 mt, down by 23.2 per cent over same month last year.

According to the report, India's consumption of total finished steel at 61.517 mt saw a growth of 3.3 per cent in April-December period in 2016-17.

Consumption in December at 7.225 mt was up by 5.2 per cent over corresponding month last year and by 17.1 per cent over November in 2016.

"Production for sale of total finished steel at 73.771 mt registered a growth of 10.5 per cent during April-December in 2016-17 over same period of last year. Overall finished steel production for sale at 8.416 mt in December was up by 12.4 per cent over December 2015 and by 11 per cent over November 2016," the report added.

--IANS

bdc/py/vt