India’s steel exports to stay robust in 2nd quarter
Jun 15, 2020 10:00
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India’s steel exports are on an upswing and, by the look of it, this trend is going to continue into the second quarter (July-September) as well. Provisional data compiled by SteelMint Research shows that the country’s exports of finished flats, finished longs and semi-finished items like billets were up a whopping 105.4% year-on-year (y-o-y) in the April-June, 2020 quarter at 4.3 million tonnes (MnT) against 2.09 MnT in the same quarter in 2019. On a quarter-on-quarter (q-o-q) basis too, exports are up 56.93% in April-June, 2020 against 2.74 MnT notched up in January-March, 2020.
Data reveals that the 2.74 MnT of exports in January-March, 2020 are down -26.93% q-o-q against 3.75 MnT recorded in October-December, 2019 and down -4.53% y-o-y compared to 2.87 MnT recorded in January-March, 2019.
Exports rose in October-December, 2019 on account of high inventory levels held by the steel mills in