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India: Finished Steel Import Increased by 10%, Export Decreased by 9% in January

//en.steelhome.cn [SteelHome] 2020-02-13 09:59:35

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Joint Plant Committee (JPC) released its provisional data for Jan'20 today. According to the released data, India's finished steel exports declined by 10% M-o-M basis to 0.693 MnT in Jan20 as compared to 0.767 MnT in Dec'19.

Amid sharp hike in domestic prices & improved demand, mills focussed more in the domestic market. Indian steel mills raised HRC export offers to Vietnam in Jan20 following hike in domestic steel prices. Thus, buyers in Vietnam preferred competitive offers from other exporting nations.

On a monthly premise, the nation's finished steel imports increased by 9% to 0.477 MnT in Jan'20 over 0.437 MnT in Dec '19.

Source: SEAISA
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