This January 2017, there has been seen a three-time rise in Indian steel export as compared to January 2016. In this January, from 0.274 million tonne to 0.889 million tonne the exports increased as compared to last January.
Because of the support of the government this hike in steel export in form of many trade measures like anti-dumping duty which is to support and defend the domestic steel industry.
From April-January, the steel exports in this fiscal year have shown a rise of 71% which is reached to 5.865 million tonne.
In January 2017, the steel import was 0.602 million tonne for India. When compared with January last year, the steel imports were down by 41.7% and by 21% from December 2016.
By 3.5% India’s consumption of finished steel also increased during the period of April-January 2016-17 which is reaching to 68.892 million tonne when compared with last fiscal year the consumption.
When seen in comparison with the production figures of December 2016, in January 2017 The crude steel production of India also was up by 11.5% at 8.367 million tonne from production in January 2016 but was down by 0.4%.