India’s steel exports declined in April 2022, even before the Indian Government imposed 15% export tax signaling the increased competition from Chinese & Russian exporters. According to Steel Ministry’s Joint Plant Committee provisional data, India’s finished steel import in April 2022 shrank by 22% YoY to 743,000 tonne. The data showed that the sharpest decline in April was in exports to Belgium which at 76,900 tonnes was down 42% YoY, while the second sharpest decline was registered in exports to Turkey at 87,400 tonne, down 18% YoY. During the month, the largest export destination for Indian finished steel was Italy, with 130,500 tonnes, up 4% YoY. Of the total finished steel exports, fiat products accounted for 80% amounting to 594,000 tonnes.Indian steel mills had a bull run in in steel exports in 2021-22 with total steel exports surging by 81% YoY to 16.405 million tonnes with semis accounting for 2.9 million tonnes & finished steel 13.349 million tonnes ie average monthly rate of 1.1 million tonnes.--------------------------------------------Top Destinations for semis – 2021-22Italy – 0.388 million tonnes, up 247% YoYTurkey - 0.050 million tonnes, up 220% YoYVietnam – 0.008 million tonnes, up 70% YoYUAE – 0.003 million tonnes, down 87% YoYOthers - 2.656 million tonnes, up 5% YoYTotal - 3.056 million tonnes, up 14% YoY------------------------------------------------------Top Destinations for finished steel – 2021-22Vietnam -1.390 million tonnes, up 43% YoYItaly – 1.377 million tonnes, up YoYBelgium – 1.337 million tonnes, up YoYUAE -1.182 million tonnes, up 155% YoYTurkey – 0.839 million tonnes, up YoYOthers – 7.223 million tonnes, up 92% YoYTotal – 13.349 million tonnes, up 110% YoY
India’s steel exports declined in April 2022, even before the Indian Government imposed 15% export tax signaling the increased competition from Chinese & Russian exporters. According to Steel Ministry’s Joint Plant Committee provisional data, India’s finished steel import in April 2022 shrank by 22% YoY to 743,000 tonne. The data showed that the sharpest decline in April was in exports to Belgium which at 76,900 tonnes was down 42% YoY, while the second sharpest decline was registered in exports to Turkey at 87,400 tonne, down 18% YoY. During the month, the largest export destination for Indian finished steel was Italy, with 130,500 tonnes, up 4% YoY. Of the total finished steel exports, fiat products accounted for 80% amounting to 594,000 tonnes.Indian steel mills had a bull run in in steel exports in 2021-22 with total steel exports surging by 81% YoY to 16.405 million tonnes with semis accounting for 2.9 million tonnes & finished steel 13.349 million tonnes ie average monthly rate of 1.1 million tonnes.--------------------------------------------Top Destinations for semis – 2021-22Italy – 0.388 million tonnes, up 247% YoYTurkey - 0.050 million tonnes, up 220% YoYVietnam – 0.008 million tonnes, up 70% YoYUAE – 0.003 million tonnes, down 87% YoYOthers - 2.656 million tonnes, up 5% YoYTotal - 3.056 million tonnes, up 14% YoY------------------------------------------------------Top Destinations for finished steel – 2021-22Vietnam -1.390 million tonnes, up 43% YoYItaly – 1.377 million tonnes, up YoYBelgium – 1.337 million tonnes, up YoYUAE -1.182 million tonnes, up 155% YoYTurkey – 0.839 million tonnes, up YoYOthers – 7.223 million tonnes, up 92% YoYTotal – 13.349 million tonnes, up 110% YoY
