Trade cases in the US have brought down the value of exports of the Steel Authority of India Ltd (SAIL) from Rs 700.28 crore in 1999-2000 to Rs 494.65 crore in 2000-01 as the quantum has dropped from 7,61,281 tonne to 4,76,010 tonne.
Of SAIL's four plants, Bhilai Steel Plant has been the worst effected. The unit's exports dropped from Rs 438.23 crore in the previous year to Rs 246.10 crore. Bhilai majors in the production of plates, rails, structurals, wire rods and semi finished steel. Bokaro, however, managed to clock exports of Rs 243.84 crore against Rs 32.57 crore in the previous year.
With the US, Canada and European Union markets virtually closed, SAIL has been exploring new markets and was able to make an entry in new markets such as Madagascar, Thailand and Bangladesh for plates and hot rolled coils. It also re-entered the Singapore and South Korean markets.
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SAIL registered its highest ever exports of 1,38,040 tonne to neighbouring Nepal, Sri Lanka, Myanmar and Bangladesh, registering a growth of 15 per cent over the previous highest 1,19,894 tonne in 1999-2000.
After a gap of more than two decades 7,256 tonne of rails, valued at Rs 15.41 crore was exported to Bangaldesh. Apart from rails, the other new products to be exported were 580 tonne of hot-rolled slit coils to Bangladesh and 5,097 tonne of semi-rolled slabs to Myanmar. Exports of 1,11,556 tonne valued at Rs 113.71 crore were the highest ever to Nepal, against 91,003 tonne valued at Rs 83.41 crore exported in the previous year.
Utilising the land route for exports to Nepal, SAIL was able to export more to the neighbouring countries.
Steel ministry sources said, the high-level steel team to the US did broach the topic of quantitative restrictions as against anti-dumping duties. However, no decision has been taken as yet on the subject.