Import in India is reduced, the exports increased
16 October 2016
In India, the Ministry of metallurgical industry has provided September’s data for steel volumes. According to them, the quantity of imported steel reached 611000 tons. This figure is lower at 46% result last September. The volume of exports increased 111%. The number of export products has reached 655000 tons. 2014 India first received the title a net exporter of steel. For the first half of the financial year, delivery of steel from abroad reached 3,594 million tons. Compared to the previous year the result fell by 37.3%. The exports increased by 35,6%. The amount of steel exported products reached 3.03 million tons.
The decline in Indian imports has been influenced by several factors. First, in India, restrictions were imposed on the purchase of foreign rolled, semi-finished products. Second, since the beginning of February this year, began to operate the minimum import cost. Now it applies to 66 items in the list of steel products. In the early months of the expiration of the minimum prices will last until the beginning of December. Also, the situation was affected by anti-dumping duties. Their government of India has applied to a number of steel products. And the list will grow.
The national metallurgical sector increasing its exported volumes as a result of advancing increase of its production. From April to September this year production of the metal in the country totalled 48,846 million tons. This figure exceeds the results of the same period of last year by 9%. The use of rental increased by only 2.5%. Its volume reached the level of 40,561 million tons of steel. In September 2016, Indian companies have developed 8,042 million tons of steel. In comparison with the September indicators 2015 volumes increased by 10.5%. Demand for the metal, stanyovci all the first half began to increase. Relative to September 2015, it increased by 7.6%.
It is not excluded that by the end of the year, India takes the second place among producers of steel products. At the moment, the country ranks third after China and Japan. The World Steel Association provided its own data on production volumes. Over a period of eight months, the Indian steelmakers have lagged behind Japan more than 6.7 million tons. This figure is 10.7% of the total steel production by Indian companies.
