Steel exports on the rise
A mix of policy inputs for promoting domestic steel usage, rise in global steel prices and a slew of efforts by Indian government to protect the domestic steel market from cheap imports had helped steel export growth from India to 53 per cent during Aprildecember 2017, during which period steel output rose to 7.6 mt. Domestic consumption has increased 5.2 per cent during the period to 64.9 MT. Sale of finished steel rose 5.6 per cent to 79.3 MT during the period. India’s crude steel production grew by 6.2 per cent to 101.4 MT in 2017 compared to 95.5 MT in the previous year, marking a dramatic rise in output.