Indian steel exports continued their downtrend in August this year, falling to 1.04 million mt, 24.5 percent lower than the export volume in July, according to the provisional data of the Joint Plant Committee (JPC) under the ministry of steel and the sole official compiler of industry data.
The lower exports were a direct fallout of rising domestic consumption of finished steel which in August was estimated at 7.5 million mt, up 7.7 percent from July, the data showed.
Indian crude steel production in August this year was estimated at 8.49 million mt, up five percent from July, increasing for the fourth consecutive month and indicating a recovery from the impact of pandemic, but still four percent lower than crude steel production in August 2019, the data showed.
India’s total crude steel production in the April-August period this year was estimated by the JPC at 33.55 million mt, down 27 percent year on year.