According to statistics released by Joint Plant Committee (JPC), India's finished steel exports, including alloyed and non-alloyed steel, totaled 814,000 tons in January this year, rising by 2% compared to the previous month and also hiking by 56% from the same month a year ago. The increase was due to domestic steel mills’ lower offers amid weak domestic demand, which attracted international purchasers.
Among them, the exports to the UAE accounted for the largest proportion, totaling roughly 81,000 tons, followed by Vietnam’s 61,000 tons and Nepal’s 53,000 tons.
In terms of imports, India imported roughly 450,000 tons of finished steel in January, up by 14% month on month but sliding by 23% year on year.
Among them, South Korea was the largest import source, with 212,000 tons, followed by China’s 70,000 tons and Indonesia’s 50,000 tons.
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