According to Indian customs services, in fiscal year 2021/2022 (April/March), national steel companies sent 20.53 million tons of steel and semi-finished products abroad. This is 7.3% more than the previous period.
More than 60% of Indian exports (about 13 million tons) were flat products. At the same time, sales of hot rolled steel decreased by 7% compared to the fiscal year 2020/2021. Cold rolled and coated steel supplies increased by more than 2 and almost 2.5 times, respectively, to 1.11 million and 3.58 million tons, respectively, at 6.89 million tons.
Long and shaped steel deliveries abroad increased by 86% compared to the previous fiscal year, reaching 2.43 million tons. 1.20 million tons of this was rebar and 1.03 million tons of wire rod. At the same time, exports of semi-finished products decreased by 30% to 5.05 million tons, mainly due to the sharp decrease in the supply to China.
Indian companies sent 1.18 million tons of steel and semi-finished products to China, which is less than 4 times the financial year 2020/2021. On the other hand, while exports to EU countries increased by 76% to reach 5.71 million tons, Indian companies significantly increased their supply to countries such as Turkey (26.5 times, up to 1.27 million tons) and United Arab Emirates (13.5 times). , up to 1.34 million tons).
According to the forecasts of Indian experts, India will continue to increase its foreign supply in the current financial year. Local metallurgical companies expect to replace Ukrainian and partly Russian steel products on the world market.
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