Indian steel exports to hit an all time high in FY’21

India’s steel exports are on an upswing this year. During May-July’20, there had been an unprecedented increase in exports due to COVID-19 lockdown which impacted the market quite severely. With rebound in domestic steel demand, the exports have come down from Aug’20 onwards; however, they’re still higher than levels prior to lockdown. With the ramping up of capacity utilisation to nearly full, by major steel producers and a traditional dip in Chinese exports during the winters, it is anticipated that the Indian steel exports would touch all the time high figures of 16 to 17 mn t.