Indian Aug steel exports down 25% on better home market
Sep 08, 2020 10:00
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India's finished steel exports reported a monthly decline of 25% to 1.039 mn t in Aug ’20 against 1.37 mn t in the previous month, as per data released by Joint Plant committee data (JPC). Indian mills had lowered export allocations due to recovery in domestic demand. Mills have few backlog orders for exports of Aug shipments which they have deferred for Sep shipments and Sep to Oct shipments to cater domestic demand, SteelMint learned from its channels.
Meanwhile, Govt owned SAIL recorded a decline in its export volumes to 0.19 mn t in Aug’20 which was 0.31 mn t in the previous month. Another major steel producer, JSPL recorded export sales at 42% of the total sales volumes in Aug '20."The company's steel export volumes have come