Steel exports expand 5%

Data from Joint Plant Committee (JPC), an arm of the steel ministry, shows that the country witnessed 5 per cent growth in steel exports at 2.367 million tonne (mn t) during Apr-Sep 2012 from the year-ago period.

But it is noteworthy that steel exports till the April-August period of 2012 declined one per cent to 1.91 mn t over the year- ago period. India's total steel exports during the last fiscal stood at 4 mn t, while imports stood at 68 mn t.

During Apr-Sep 2012, the contribution of the non-alloy segment in exports stood at 2.118 mn t, while the remaining was from alloy steel, including stainless steel. Steel, such as stainless steel, produced with some amount of alloying elements to impart specific properties is known as alloy steel. Non-alloy steel does not contain any alloy.

The JPC data showed that of the total finished non-alloy steel exports, non-flat products were at 0.176 mn t and the flat basket at 1.942 mn t.

Bars & rods and structural were the major contributors to the exports in non-flat segment. In the flat segment, HR Sheets, CR Coils and Galvanised Products were the biggest contributors.

Of the total steel making capacity of around 90 mn t, the country produced 73.8 mn t in 2011-12.