Indian Steel Exports

During April-January, India's imports of Russian steel reached an eight-year high, and shipments were nearly five times higher than in the same period a year ago

India's steel exports is expected to come down by 40% to 12 million tonnes (MT) in the ongoing fiscal, as a result of the duty-related measures taken by the government last month, according to CRISIL

China bought 1.9 million tonnes, cornering 29% of India's finished steel exports, which hit their highest in at least six years at 6.5 million tonnes

Icra says in first two months of the current fiscal, Indian finished steel exports grew 76% YoY, and that China alone accounted for close to 60 per cent of this increase

Though domestic demand for steel is seen picking up, views remained mixed on whether capital expenditure growth cycle will pick up

The Trade Expansion Act of 1962, Section 232(b) gives the United States the ability to investigate whether certain imports, or high levels of certain imports, pose a threat to national security

India still managed to maintain its position as a net exporter of finished steel

India is third largest producer of crude steel after China and Japan

In April, production for sale of total finished steel at 8.43 mt, registered a growth of 8.7% yoy