India’s semi-finished steel exports increased by 21pc in Sep 2019, to 2,67,201mt, as compared with the same month for the prior year, while it surged by 37pc when compared to Aug 2019, as per a Davis Index data study.
Of India’s total exports of semi-finished steel in Sep 2019, Nepal imports were the maximum at 23pc, followed by Italy at 21pc, and Sri Lanka and the Philippines at 8pc, each.
In the Apr-Sep period, exports of semi-finished steel were down by 7pc, at 11,20,403 mt, as compared to same period last year.
Indian mills preferred to export semi-finished steel during the second quarter of 2019, as demand was not active in the domestic market. Also, the rupee depreciation against the US dollar provides steel mills better realisation as against domestic sales.