India's steel exports decreased year-on-year, while imports increased

Between April 2022 and February 2023, exports of finished steel to India decreased by 52 percent year on year to 5.90 m/t, while steel imports increased by 29 percent year on year to 5.59 m/t.

While the export rate decreased continuously between April 2022 and February 2023, the import rate increased between June 2022 and February 2023.

Galvanized sheet and coil imports rose 23.2% year-on-year, while rolled sheet and coil rose 10.4%.

According to the researches, Japan, Russia and Vietnam are at the forefront of the places where India currently exports abundantly.

A Mumbai-based trader stated that the price of cargo delivered to Mumbai by sea is around 58,500 rupees/mt ($712.83) on delivery basis.

Likewise, the price of HRC transported to Mumbai by sea in February was 49,000 rupees/mt.

According to market data, the ex-factory price of domestic HRC on March 27 was 59,500/mt ($724.94).