Steel consumption in India grew by just 0.2% between April-June 2013 due to the country’s low industrial and economic activity in the first quarter of the 2013/14 financial year.

Real consumption in Q1 was 17.797Mt. Imports fell 34.1% y-o-y to 1.32Mt due to a combination of poor economic activity and a 17% fall in the value if the Indian Rupee against the US dollar.

Exports of finished steel grew, however, by 12.7% to 1.12Mt but declined by 8.3% in June.

Total output of crude steel for Q1 was 19.687Mt, a growth of 1.4% compared with the same period 2012.