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SAIL exports surge to Rs 150 crore in April
May 13, 2003 14:58 IST
Belying market estimates of a likely fall in global exports, Steel Authority of India exported over 100,000 ton of steel valued at Rs 150 crore (Rs 1.50 billion) in April 2003.
This is the fifth consecutive month since December 2002 that the company maintained exports at over the 100,000-ton mark, SAIL sources said in New Delhi.
The bulk of exports, which comprised steel billets, plates and hot rolled coils, was to Italy, Thailand, Taiwan, China, Bangladesh, Nepal, Sri Lanka and the Philippines.
The growth in SAIL's exports for April was over five times of the 17,000 ton exported in the corresponding month last year.
According to sources, it is estimated that the other Indian flat steel producers together exported around 175,000 ton during the month under consideration.
Chinese demand was recently affected as a result of the exercise being undertaken by the Chinese authorities to review the safeguard measures imposed by them, sources said adding that fresh quotas were likely to be released soon.
However, Indian flat steel producers, including SAIL, had booked sufficient export orders to other foreign markets for HR coils and plates as well as downstream products like cold rolled coils and galvanised coils and sheets, they added.
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