International credit rating agency Moody's stated that India's steel demand is stronger when compared to Europe and the US.
According to statistics, in the April-October period, India's steel consumption rose 11.4 percent year on year to 65.5 million tons.
From July to September this year, some of India's major steel companies suffered a decline in their profits due to export duties. From April to October, India's steel exports fell by more than 50%.
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