Indian finished steel exports continue to improve in June, while imports remained rangebound amid rising international steel prices. India’s steel exports rose to approximately 1.733mn mt in June, up by 10.6pc from May, but fell by 11.8pc from a year ago. Imports increased by 2.2pc from May and 50.9pc from the prior year to approximately 392,340mt.
In June, India was a net exporter of finished steel with a net trade surplus of 0.97mn mt.
On a quarterly basis, in Q1 (April-June) finished steel exports increased by 8.9pc from a year ago, while it was up by 43.9pc from Q4. While imports fell by 4.5pc from a year ago and 25.0pc from the prior quarter.
Exports to Italy increased to 16pc in June from 2pc a year ago, Belgium rose to 12pc from 1pc. Exports to UAE, Turkey, Hong Kong and Nepal also increased in June from the prior year. While Vietnam’s share of imports halved to 15pc from 30pc.