/ Steel Exports Rise By 150% Feb 2017 ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 9 March 2017

The steel exports in February recorded a growth of 150% at 0.75 MT; whereas import numbers showed decline by 46%,  and now stand at 0.49 MT. The government is providing support to the domestic steel industry by implementing trade remedial measures such as anti-dumping.

The steel consumption in the month of February rose marginally by 3% as against in February 2016. The per capita steel consumption stands at 61 Kgs in India as compared to world average of 208 Kgs. The steel ministry aims to increase per capita steel consumption to 160 Kgs by 2030-31.

India became the 3rd largest producer of steel in 2015, and is now well on track to emerge as the 2nd largest producer after China. The overall crude steel production in the month of February 2017 witnessed rise of 8.5% at 8.08 MT.

Crude steel production stands at 89.08 MT for the period of April 2016 to February 2017, recording a growth of 9.3% over the same period in the previous year.

The consumption of total finished steel witnessed growth of 3.4% in April 2016 to February 2017, which stands at 76.22 MT. Import of total finished steel for the same period declined by 38.5% as compared to the previous year's figures. However, export saw increase by 77.6% in the same period as compared to the exports of the previous year.

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