India’s Sponge Iron Production Rise 8% y-o-y in 2021

India’s sponge iron production saw an 8% increase y-o-y in 2021 at 37.06 mnt compared to 34.25 mnt in 2020. Bangladesh stood as the largest importer with 0.3 mnt. But, the volumes declined by 7% y-o-y compared to 0.32 mnt in 2020. Nepal is the second-largest importer of Indian steel products. India’s sponge iron exports to Nepal increased by a whopping 59% y-o-y to 0.27 million tonnes (mnt) in 2021 compared to 0.17 mnt recorded in 2020.