HR coil exports dip 35% in H1

Exports of hot-rolled (HR) coils by leading domestic manufacturers have slipped by around 35 per cent in the first half of the current financial year, while production has jumped up by 10 per cent during the period, according to the figures compiled by leading steel producers.

Exports of HR steel in the first half were at 6.47 lakh tonne, lower than 9.93 lakh tonne exported in last year's corresponding period.

Meanwhile, of the total sales of 4.18 million tonne of HR coils between April and September 2004, domestic sales were at 3.53 million tonne compared with 3.225 million tonne in the corresponding period last year, a rise of 18 per cent.

Industry sources said, "Domestic HR coil producers have cut back heavily on exports of HR steel to feed the domestic market. In fact, total exports of flat products, including cold-rolled and galvanised products by the five main integrated steel makers, have also seen a sharp drop."

The production of flat steel by SAIL, Tata Steel, Essar, Ispat and Jindal Vijaynagar Steel at 6.59 million tonne in the first half was up four per cent, against a production of 6.36 million tonne in the corresponding period of the previous year.

Total exports of flat steel, including downstream products like cold-rolled and galvanised steel, declined to 1.270 million tonne during the period against 1.531 million tonne.