Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

India's May steel exports drop to lowest in three years.


Date: 27-06-2019
Subject: India's May steel exports drop to lowest in three years
India's finished steel exports in May fell to their lowest in three years as shipments to traditional markets in the European Union (EU) and Nepal shrank, preliminary government data reviewed by Reuters showed.

India exported 319,000 tonnes of finished steel in May, down 28% from the same month last year and the lowest level since April 2016, the data showed.

Steel exports to the EU dropped 55% in May, led by fewer shipments to Italy, Belgium and Spain, which together made up about 80% of India's overall exports to the region.

That comes amid 'safeguard' measures by the EU that are designed to limit incoming steel and prevent a surge of imports as a result of Washington's 25% import tariffs, which have effectively closed the US market.

Indian exports to Italy slumped 65% to 23,000 tonnes, according to the data. Exports to Spain fell 41% to 13,000 tonnes, while shipments to Belgium were down 42% at 25,000 tonnes.

India, which typically ships cold-rolled coil, galvanized steel and some long products such as bars and rods to the EU, saw a decline in these shipments by as much as 30%.

Meanwhile, India's exports to Nepal, the top destination last year, were down 22% at 63,000 tonnes.

Shipments were also substantially lower to Malaysia and Sri Lanka, which were among the top 10 export destinations last year.

Exports of steel plate, which is one of the flat products that comprise most of India's steel exports, fell 60% to 14,000 tonnes, the data showed.

Shipments of pipes, which are typically the main steel product exported to the United States, dropped 97% to 2,000 tonnes.

Overall, India's finished steel exports were down 30% during April-May and the country remained a net importer.

Hit by low exports and facing higher imports, India's steel ministry has been pushing for higher import duties.

Source: moneycontrol.com


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 26-11-2020
Notification No. 43/2020-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe BCD rate of 27.5% on Crude Palm Oil

Date: 26-11-2020
Notification No. 39/2020-Customs (ADD)
Seeks to amend notification No. 51/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of "Fully Drawn or Fully Oriented Yarn/Spin Drawn Yarn/Flat Yarn of Polyester " originating in or exported from China PR & Thailand , for a further period upto and inclusive of 31st December, 2020

Date: 26-11-2020
Public Notice No. 30/2015-20
Revision of SION A1827 of Export Products - Ossein

Date: 23-11-2020
A.P. (DIR Series) Circular No. 07
Establishment of Branch Office (BO) / Liaison Office (LO) / Project Office (PO) or any other place of business in India by foreign law firms

Date: 20-11-2020
Circular No.51/2020-Customs
Clarifications regarding availment of exemption on temporary import of durable Containers - reg.

Date: 19-11-2020
Notification No. 60/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 19-11-2020
Notification No. 61/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 19-11-2020
Notification No. 59/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 19-11-2020
Notification No. 38/2020 -Customs (ADD)
Seeks to further amend notification No. 56/2015-Customs (ADD) dated 4th Dec, 2015 to extend the levy of Anti-Dumping duty on Phthalic Anhydride originating in or exported from Japan and Russia, up to and inclusive of 31st Jan, 2021.

Date: 19-11-2020
Notification No. 108/2020 - Customs (N.T.)
Exchange rate Notification No.108/2020-Cus (NT) dated 19.11.2020



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001