India’s steel exports reach 18-month high of 11 lakh tonnes in January India Business News
New Delhi: India’s steel exports reached one 18 month high Of 1.1 million tons In January 2024, driven by increased demand European Union And favorable global pricesAccording to a report by steelmint,
“Good demand for restocking The European Union (EU) contributed 67 per cent of the 1.11 MT (exports) in January. On the reasons behind the growth in exports, Steelmint said it was the highest in the last 18 months.
The report also attributed the increase in exports Competitive domestic steel prices,
India exported 0.67 million tonnes of steel in January 2023.
value of hot rolled coil (HRC) in India’s traded sector was at Rs 54,300 per tonne, while the global rate was at US$710 per tonne (about Rs 58,000), further boosting demand for Indian steel. international market,
Overall, Indian steel exports may remain largely range-bound or decline slightly in the near term, Steelmint said, as “the Chinese lunar holidays and the Tet festival in Vietnam led to a decline in global trade.”
(With PTI inputs)
“Good demand for restocking The European Union (EU) contributed 67 per cent of the 1.11 MT (exports) in January. On the reasons behind the growth in exports, Steelmint said it was the highest in the last 18 months.
The report also attributed the increase in exports Competitive domestic steel prices,
India exported 0.67 million tonnes of steel in January 2023.
value of hot rolled coil (HRC) in India’s traded sector was at Rs 54,300 per tonne, while the global rate was at US$710 per tonne (about Rs 58,000), further boosting demand for Indian steel. international market,
Overall, Indian steel exports may remain largely range-bound or decline slightly in the near term, Steelmint said, as “the Chinese lunar holidays and the Tet festival in Vietnam led to a decline in global trade.”
(With PTI inputs)
