Finished steel imports goes up by 60 per cent during April-July 2007

Import of finished carbon steel during the first four months, April to July 2007, was up by 60.2 per cent over the same period last year. During April to July 2007, the imports stood at 1.45 million tonnes compared to 0.905 million tonnes in 2006.

Exports during the same period was up by 7.2 per cent, from 1.632 million tonnes in April-July, 2006 to 1.750 milllion tonnes this year.

Production of finished carbon steel went up by 4.1 per cent during April-July 07 and stood at 15.55 million tonnes as against 14.943 million tonnes in April-July 2006. Production of pig iron recorded a rise of 13.8 per cent at 1.602 million tonnes.

On the price front, while there was no change in price of pig iron and GP sheets in July compared to the previous month, the price of wire rods rose by 3.33 per cent, HR Coils by 2.94 per cent, CR Coils by 1.32 per cent and plates (12 mm) by 1.45 per cent.

Prices of pencil ingots / Billets fell by 3.16 per cent while those of TOR / TOT (10mm) went down by 1.54 per cent and rounds (16mm) by 1.64 per cent during July 2007 as against June 2007.