Indian finished steel exports were recorded at 1.05 million mt in October this year, a 22 percent decline on month-on-month basis, according to the provisional figures of the Joint Plant Committee (JPC) under the ministry of steel and the sole official compiler of industry data.
Imports of steel into the country also registered a fall of eight percent in October to 380,000 mt, compared to September.
Industry officials attributed the fall in overseas shipments, particularly hot rolled coil HRC) to key destinations like Vietnam, to Indian mills’ higher price levels at a time buyers are securing lower ex-China offers.
Total domestic crude steel production during October 2021 was recorded at 9.75 million mt, up two percent, month-on-month, while consumption suffered a sharp fall of 12 percent to 8.2 million mt, JPC data showed.