Indian pellet export shipments doubled in Q1 FY21
Jul 09, 2020 10:00
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Indian pellet export shipments in the first quarter of fiscal FY'21 recorded at 5.07 mn t, as per data maintained with SteelMint. On a quarterly basis exports increased almost two folds as against 2.60 mn t in Q4 FY'20. On a yearly basis too, pellet exports picked up as against 2.99 mn t in Q1 FY'20.
Factors which favoured Indian pellet exports for the quarter:
1. Limited domestic demand :The pandemic COVID-19 led to country wide closure, in turn affecting the domestic needs by the steel mills. Also, with steel mills running on low capacity utilization due to lock-down in Apr'20 and early May'20, pellet offtake in