India's HR coil exports fall in H1

India’s HR coil exports fall in H1

According to the figures compiled by India's leading steelmakers, exports of hot rolled coils by Indian steelmakers decreased by around 35% in the first half of the current fiscal year while production increased by 10%. Hot rolled coil exports amounted to 647'000 tons in the mentioned period against 993'000 tons exported in last fiscal year's same period. Domestic sales of HR coils were recorded as 3.53 million tons in the first six month, up by 18% compared to 3.23 million tons registered in the same period of last year. It is reported that domestic HR coil producers have reduced exports of HR steel to feed the domestic market. Moreover, total exports of flat products, including cold rolled and galvanized products, have also seen a sharp drop. The output of flat steel by SAIL, Tata Steel, Essar, Ispat and Jindal Vijaynagar Steel amounted to 6.59 million tons in the first half, up by 4% compared to 6.36 million tons recorded in the same period of previous year. Total exports flat steel declined to 1.27 million tons in the aforementioned period against 1.53 million tons registered in the previous year.