Indian steel exports surge 26 percent in Q4 FY 2020-21

Wednesday, 28 April 2021 15:16:27 (GMT+3)   |   Kolkata
       

Indian steel exports surged to 2.47 million mt in the January-March period this year, up 26 percent from the corresponding period of the previous year, according to data sourced from the Ministry of Steel.

The data showed that, of the total steel exports during the last quarter, the surge was accounted for by shipments of 1.29 million mt in March alone.

Of total outward shipments in March this year, hot rolled coil (HRC) accounted for 676,200 mt, the ministry data showed.

Rising demand in the EU market accounted for the bulk of steel exports during the last quarter of the year fiscal 2020-21, with Italy accounting for 22 percent of total outward shipments in March, followed by Belgium with 16 percent and Spain with five percent.

Apart from the late surge in the last quarter of the fiscal year 2020-21, a sharp fall in imports enabled India to remain a net exporter of steel during the year.

Against total exports of 10.78 million mt in the fiscal year 2020-21 (April-March), up 29 percent, total imports fell 29.8 percent year on year to 4.75 million mt, allowing India to maintain its net exporter status, the data showed.


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