Steel exports dip 1% to 19 lakh tonnes in April-August

NEW DELHI: India's steel exports declined by one per cent to 19.19 lakh tonnes (LT) in the April-August period of the current fiscal over the year-ago period.

According to the Steel Ministry data, non-alloy steel contributed 17.41 LT to the total exports, while alloy steel contributed the remaining 1.79 LT.

"The contribution of non-alloy steel segment grew by one per cent, but the contribution of alloy steel segment saw a decline of 19 per cent during the April-August period of the current fiscal," it said.

Steel, such as stainless steel, produced with some amount of alloying elements to impart specific properties is known as alloy steel. Non-alloy steel do not contain any alloy.

Almost 90 per cent of India's total production is non-alloy variety.

Galvanised sheets and galvanised coils were the major export items during the period at 6.42 LT, followed by Hot-Rolled Coils at 4.68 LT.

The highest exports were done through Jawaharlal Nehru Port at 5.64 LT during the April-August period followed by 2.28 LT through Mormugao Port Trust in Goa.

India's total steel exports during the last fiscal stood at 40 LT, while imports were 68 LT.

Country's steel making capacity in 2011-12 was around 900 LT, but actual production during the fiscal stood at 738 LT.

India's total consumption of steel during the April-July period was 226 LT.

Source : economictimes.indiatimes.com