LMM Global Steel Information Quick View (2021.10.27)
India’s September crude steel production declines
Mysteel learned that, according to data from the Indian Joint Factory Committee, India’s crude steel production in September fell 1.8% month-on-month, but increased by 8.7% year-on-year. The probable reason is that JSW closed a furnace at its Vijayanagar steel plant for maintenance and upgrade work, and ended the work in the second week of September.
India’s September steel imports increased by 3.3% month-on-month and 28.6% year-on-year, while exports increased by 1.7% month-on-month, which was an increase of 56.7% from September of the previous year.
In the third quarter, India’s finished steel imports increased by 5.2% month-on-month to 1.22 million tons, an increase of 57.8% year-on-year, while finished steel exports increased by 18% month-on-month to 4.2 million tons, an increase of 28% year-on-year.