SME Times is powered by   
Search News
Just in:   • Oil prices rises after sharp declines  • Exports growth continues to recede: FIEO chief  • Financial distress in India's thermal power sector  • World Entrepreneurs' Day on Tuesday, Aug 21  • China lodges protest over Pentagon report on planned strikes 
Last updated: 14 Mar, 2017  

Steel.9.Thmb.jpg Steel exports surge 150 pc in Feb, overtake imports

Steel.9.jpg
   Top Stories
» Exports growth continues to recede: FIEO chief
» World Entrepreneurs' Day on Tuesday, Aug 21
» Rupee closes below the 70-mark, exporters may benefit: Experts
» Forex reserves plunges by over $1.80 bn on rupee crisis
» 'Unorganised food processing sector majorly populated by SMEs'
SME Times News Bureau | 14 Mar, 2017
Overtaking imports, India's steel exports jumped by 150 percent in February over year-ago month and the country shipped out 6.622 million tonnes (mt) of steel in April-February period of the current fiscal, up by 77.6 percent over the same period last year, a steel ministry report said.

"Export of total finished steel was up by 77.6 percent in April-February 2016-17 at 6.622 mt over same period of last year. Exports in February were up by 150 percent over February 2016 but declined by 15 percent over January 2017," said the report of Joint Plant Committee.

Imports of total finished steel in the first 11 months of the current fiscal declined by 38.5 percent to 6.591 mt over same period of last year and in February only, imports were at 0.491 mt, down by 46 percent over same month last year.

"Given such trends in export-import, India emerged as a net exporter of total finished steel during February 2017 as well as April-February 2016-17," the report said.

According to it, India's consumption of total finished steel at 76.229 mt saw a growth of 3.4 percent in April-February period in 2016-17 over same period of last year. Consumption in February, 2017 at 7.334 mt was up by 3 percent over corresponding month last year and but declined by 0.2 percent over January, 2017.

Production for sale of total finished steel at 91.846 mt, registered a growth of 11.1 percent during April-February in 2016-17 over same period of last year.

Overall finished steel production for sale at 8.838 mt in February, 2017 was up by 13 percent over year-ago month but declined by 2.3 percent over January 2017," the report added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 20 Aug, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(5)
» Niryat Mitra, a well thought-out app(2)
» Export Promotion Councils should work for promotion of GI Products: Prabhu(1)
» Indian cement industry – opportunities and challenges(1)
» Audi CEO to remain in German police custody(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter