Global seaborne steel export trade in 2022 dropped around 15% y-o-y to over 288 million tonnes (mnt) from around 337 mnt in 2021, as per data collated by SteelMint. Volumes shrunk in 2022 due to considerably lower shipments from Russia, Ukraine, India and Turkiye due to the ongoing armed conflict in Europe and loss of steel production and demand in key countries owing to inflation, rampant currency volatility and economic recession.
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