According to the Joint Plant Committee, a division of the Ministry of Metallurgical Industry of India, in October 2021 national exports of finished steel products amounted to 1,055 million tons, which is 22.1 percent less than the previous month. Rolled product imports decreased by 7.6% compared to September and became 378 thousand tons.
In addition, the Indian Ministry of Commerce reported that in September, the country's metallurgical companies sent 548.9 thousand tons of steel semi-finished products abroad, 12.1% less than in the same month of 2020.
Indian steel exports totaled nearly 2.4 million tons of the total rolled and semi-finished product supply in July. However, this figure was below the record set in July 2020.
Between April and October 2021, Indian metallurgists supplied 8.81 million tons of finished steel products to foreign customers, an increase of 24.1% compared to the previous year. In the April-September period, semi-product exports decreased by 32% to approximately 3.0 million tons, while India's steel imports increased by 17.2 percent to 2.75 million tons in the April-October period.
The exhaustion of supply quotas to the European Union and the worsening of the situation in the Turkish market caused a month-on-month decline in India's steel exports in October.
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