SAIL aims to double steel exports in FY 2020-21

Friday, 17 July 2020 12:18:26 (GMT+3)   |   Kolkata
       

Buoyed by its performance during the first quarter of the current fiscal year, Indian state-run steelmaker Steel Authority of India Limited (SAIL) will aim to double its export volume in the fiscal year 2020-21, the company has said in a report to shareholders.

SAIL achieved an all-time record high of overseas shipments of steel products in FY 2019-20 at 1.18 million mt, recording 54 percent growth on year-on-year basis, the company report said.

In June this year, the company exported 340,000 mt of steel products and semis, the highest-ever monthly overseas shipment total.

Against this backdrop, SAIL has set an export target of 2.4 million mt for the current fiscal year, the company said in its report.

According to SAİL, higher exports enabled it to bring down inventories to 1.65 million mt as of the end of June, compared to 2 million mt at the end of March.

The company’s main export markets were China, Vietnam, the Philippines and the Middle East, it said.


Similar articles

SAIL achieves highest ever-steel exports in FY 2019-20

23 Oct | Steel News

SAIL’s RSP books high grade steel plate export order from EU

29 Jun | Steel News

India’s SAIL to double steel exports in FY 2017-18

06 Mar | Steel News

India’s finished steel use totals 24.1 million mt in April-July

15 Aug | Steel News

India’s finished steel consumption down slightly in April-May

13 Jun | Steel News

Indian coking coal import price falls below $200/mt mark

08 Aug | Scrap & Raw Materials

SAIL expects 50 percent growth in its coking coal imports

14 Mar | Steel News

SAIL achieves highest ever-steel exports in FY 2019-20

23 Oct | Steel News

SAIL’s RSP books high grade steel plate export order from EU

29 Jun | Steel News

India’s SAIL to double steel exports in FY 2017-18

06 Mar | Steel News