Indian sponge iron exports have gained momentum by 33%, y-o-y in FY’20

Indian sponge iron production increased by 9%, following a surge in domestic steel capacities in India with the government target to produce about 300 MnT steel by 2025. This has also boosted domestic sponge consumption by 8%, y-o-y in FY’20.

Indian sponge iron exports have gained momentum by 33%, y-o-y in FY20 as melting capacity in neighboring nations i.e Nepal & Bangladesh rising over 15% on yearly premises.