India: Steel exports drop as domestic demand picks up
Sep 17, 2020 10:00
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After touching a record 2.44 million tonnes (mn t) in July, 2020, exports from India are slated to touch around 1.65 mn t, lower by 32.37% month-on-month as per provisional figures available with SteelMint. Yes, the exports party seems to be over because domestic demand is not only on the rise, prices too are becoming more lucrative in the home-grown space.
Overall, from April-July, 2020, steel exports touched 7.81 MnT against 2.88 MnT in the same first four months of 2019-20, a more than 170% rise year-on-year. From April to June, there had also been an exponential jump in export volumes and around 60-65% of this quantum had been going into