Millennium Post

Indian steel companies defy Western crisis, achieve 5% export growth

India’s steel exports during the first six months of the current fiscal rose by 5 per cent to 2.367 million tonnes (MT) as compared to the same period of last year.

The contribution of the non-alloy segment stood at 2.118 MT, while the remaining was from alloy steel, including stainless steel, according to the latest report of the Joint Plant Committee (JPC), a body under the steel ministry.

Steel, such as stainless steel, produced with some amount of alloying elements to impart specific properties is known as alloy steel. Non-alloy steel does not contain any alloy.

The JPC data showed that of the total finished non-alloy steel exports, non-flat products were at 0.176 MT and the flat basket at 1.942 MT.

Bars & rods and structural were the major contributors to the exports in non-flat segment. In the flat segment, HR Sheets, CR Coils and Galvanised Products were the biggest contributors.

India’s steel exports were down by one per cent to 1.91 MT till the April-August period of current fiscal over the year- ago period.

India’s total steel exports during the last fiscal stood at 4 MT, while imports stood at 68 MT. Country’s steel making capacity in 2011-12 was around 90 MT, but actual production during the fiscal stood at 73.8 MT.
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