According to Mysteel, India shipped about 1.72 million tons of steel to Vietnam in the 2021-2022 fiscal year, of which about 1.6 million tons were hot coils, a decrease of about 10% year-on-year. Nonetheless, India’s total steel exports rose by around 30% year-on-year, mainly due to higher exports of steel (especially hot coils) to Europe and the Middle East.
The UAE became India’s second largest exporter of steel this fiscal year, with an export volume of about 1.25 million tons, up about 50% year-on-year, of which HRC (hot rolled coil) exports accounted for half, about 780,000 tons. Italy and Belgium were India’s third and fourth largest steel exporters in this fiscal year, with India’s steel exports to Belgium doubling from last year.
In addition, most notably, Turkey’s imports of Indian HRC in 2021 will soar 35 times year-on-year, mainly due to the surge in demand for HRC prices. At the same time, the price difference between India and Turkey is large, and the former price is more advantageous for buyers.
Post time: Apr-22-2022