China accounted for 28% of total steel exports from India aggregating to 5.8 mnt in FY ’21. The demand for semi-finished steel products in China increased towards the year-end amid blast furnace, lime kiln and sintering restrictions since Sep ’21.
The demand for flats was fuelled by a kick-start to China’s automobile sector and billets were fed into its infra projects. The billet exports volumes thus have spurted by 153%, reinforcing that China’s economic recovery was led by investments in infra projects.
Other major export destinations were Vietnam at 2.8 mn t, Nepal at 1.89 mn t and Italy at 1.28 mn t in FY ’21.
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