India's steel exports plunge over 50% in FY23. What lies ahead?

Source: Steelmint Apr 18, 2023 10:00

Export tax, conflict, and Vietnam and UAE's disinterest drag down volumes. Indian mills' offers drop 24% y-o-y in FY23. Volumes may rise but margins may be thinner in short term.

Morning Brief: India's steel exports plunged a steep 52% to 9.02 million tonnes (mnt) in financial year 2022-23 (FY23), reveals SteelMint data. The volume in FY22 was at 18.78 mnt. Indian mills, on average, exported 0.75 mnt of finished steel and billets last fiscal compared to a far more robust 1.56

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