According to data released by the Indian Steel Association, India's steel exports rose 35.9% year-on-year to 923,000 tonnes in August, hitting the highest monthly export volume since the 2017 fiscal year (commencing April 1). Industry insiders stated that the surge in exports indirectly reflects weak domestic steel consumption in India.

From April to August, India's cumulative finished steel exports reached 3.73 million tonnes, a year-on-year increase of 57.1%; production of commodity-grade steel climbed 5.9% to 43.21 million tonnes; steel imports stood at 3.46 million tonnes, growing 15.9% year-on-year.

Over the April-August period, crude steel output of Steel Authority of India Limited (SAIL) dipped 1.5% to 5.86 million tonnes, while Tata Steel's crude steel production jumped 15.3% to 5.08 million tonnes.

Editor: Zeng Qiaoqiao

Source: China Metallurgical News - China Steel News Network