India’s steel exports up by whopping 61% in FY ’21

India’s steel exports in financial year 2020-21 (FY ’21) rose a whopping 61% to 18.92 million tonnes (mn t) against 11.79 mn t in FY ’20, as per SteelMint data. The overall export volumes have remained strong in the past 3-4 months on higher margins, despite strong domestic demand, especially since Europeans were buying at prices that went through the roof. Sources indicate that Apr ’21 export volumes may not be very high however, in May ’21, export levels may be reasonably good due to regional lockdowns which has hampered domestic demand.