Steel exports by India dropped by around 45% y-o-y to 10.19 mnt from over 18 mnt in 2021. Thus, India slipped to the 11th spot among major steel-exporting countries this year from the 7th position last year. This was mainly due to the 15% duty slapped on steel exports in May this year, which resulted in a massive decline in volumes. China remained the top exporter.
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