India’s net steel exports are provisionally expected to touch an eight-year low in financial year 2023-24 (FY’24). India has remained a net steel exporter since FY’16. However, in FY’24, the net export volumes are seen hitting their lowest of 0.5 million tonnes (mnt) in last eight years. Finished and semi-finished (billets) exports may also fall to their second-lowest levels of around 9 mnt (lowest of 8.75 mnt seen in FY’23) while imports may end the fiscal at a hefty 8.5 mnt, the second-highest since FY’16. Net exports are expected to fall in FY’24 essentially because of the bloated imports figure.
