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India exports 8.22 MT finished steel during April-January FY18.


Date: 20-03-2018
Subject: India exports 8.22 MT finished steel during April-January FY18
The government today said that 8.22 million tonnes finished steel was exported during April-January of 2017-18.

As against exports, the imports were lower at 6.45 MT during the said period, Minister of State for Steel Vishnu Deo Sai said in a reply to the Lok Sabha.

India had exported 8.24 MT during 2016-17 and 4.08 MT in 2015-16, he said.

The country imported 7.23 MT in 2016-17 and 11.71 MT during 2015-16.

To a question related to volatile price of iron ore -- a key raw material used in steel making -- the minister said that government does not control or regulate the pricing of iron ore or any other raw materials in the country. There is a transparent policy of mineral allocation and its extraction.

Further, steel manufacturers are free to import any raw material based on their financial consideration, he added.

Source: moneycontrol.com

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