According to statistics released by the Joint Works Committee (JPC), finished steel exports from India stood at 855,000 tons in April this year, up 13% from the same month a year ago, a new high.During this period, India's crude steel production rose by 1.2% year on year to 10.5 million tons, while pig iron production decreased by 8.4% year on year to 505,000 tons.
According to the report of the Ministry, the export of unalloyed steel in April amounted to 0.767 million tons, which is 10% more than in the previous year and 2%, respectively. On the other hand, non-alloy and stainless steel exports increased by 29% (low base effect) year on year and 44% since March 2023.
Alloy steel still makes up the majority of exports – almost 90 percent of the total. Finished steel includes unalloyed, alloyed and stainless steels.
On the other hand, imports of unalloyed steel rose by 46% year on year to 0.293 million tons. Thus, imports of the segment remained almost at the same level. Imports of unalloyed and stainless steel increased by 27% yoy and 21% mom (compared to March) to 0.167 million tons.