India’s steel exports rise 13 per cent in April
India’s steel mills began FY24 on a positive note with exports increasing 13 per cent in April as compared to the same month last year while there was a 5 per cent rise in exports sequentially (April vs March).
Finished steel exports in April stood at 0.855 million tonnes (mt), as per provisional numbers available with Steel Ministry. As against this, exports in the year-ago period (April 2022) was 0.761 mt. In March, exports were 0.812 mt.
Global markets are still stressed with respect to export offers and remain volatile, steel mill officials say.
However, imports (shipments coming into the country) for the month saw a sharp spike. Imports were up 38 per cent on a YoY basis to 0.46 mt (against 0.333 mt); while on a sequential basis, imports rose 7 per cent. Import of finished steel in March was 0.429 mt.
