In the current financial year (April 2021 - March 2022), Indian metallurgical companies will bring their steel products export volume to a record high in history. It is expected to be at least 15 million tons, according to the estimate made by the general manager of Jindal Steel & Power Ltd.
In FY2020/2121 India's finished rolled product exports totaled 10.8 million tons, the highest indicator for the industry. In addition, Indian companies sold about 5 million tons of semi-finished products abroad. The foreign procurement volume of finished products in Q1 FY2021/2022 (April-June) amounted to approximately 3.5 million tons.
V.R.' According to Sharma, currently, national metallurgical factories ship about 40% of their products abroad, compared to 20% last year. This growth is supported by factors such as the decline in Chinese steel exports and export duties in Russia.
The main problem limiting the foreign supply of Indian rolled products. Due to the coronavirus epidemic and quarantines, cargo has slowed in ports and there are not enough ships. As a result, inventories of unshipped steel products are accumulating at Indian ports.
Comments
No comment yet.