India exports 8.22 MT finished steel in Apr-Jan FY18

Posted by Daily Shipping Times on 22-03-2018        Tweet

NEW DELHI: The Government has said that 8.22 million tonnes of 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.