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Finished steel exports fall 34% to 6.36 MT in 2018-19: Steel Minister

Finished steel exports fall 34% to 6.36 MT in 2018-19: Steel Minister

New Delhi: India's finished steel exports dipped 33.9 per cent to 6.36 million tonne (MT) in 2018-19, amid the government's efforts to keep the country as the net exporter of the metal.

The country produced 110.92 MT of crude steel during the same year, a rise of 7.6 per cent as against 103.13 MT in 2017-18, Minister of Steel Dharmendra Pradhan said while replying to a question in the Lok Sabha on Monday.

The minister also said the country exported 6.36 MT of finished steel during 2018-19, registering a fall of 33.9 per cent as compared with 9.62 MT in the previous year.

Recently, Pradhan said that in the next two-three years, India will be in a position to continue to remain the net exporter of steel for years.

"We also produce saleable steel. We sometimes become importer, sometimes we are exporter. At present, we are net importer, we are importing about 2-3 MT... Within the next two-three years, India will remain a net exporter of steel for years. There will be no import," he had said while speaking at an industry event.

Earlier on Moday, Pradhan informed the policy makers that the government has notified a Steel Scrap Recycling Policy (SSRP) to provide for a framework to facilitate and promote establishment of metal scrapping centers in India for scientific processing and recycling.

Union Steel and Petroleum Minister Dharmendra Pradhan said in Lok Sabha that the policy framework provides standard guidelines for collection, dismantling and shredding activities in an organised, safe and environmentally sound manner.

"The Steel Scrap Recycling Policy has been notified in the Gazette of India vide No. 354 dated November 7, 2019. The policy provides a framework to facilitate and promote establishment of metal scrapping centers in India for scientific processing and recycling of ferrous scrap generated from various sources and a variety of products," he said during Question Hour.

Agencies

Agencies

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