India’s finished steel exports, including semis, dropped 34% to 3.78 million tonnes (mnt) in the first quarter (April-June, 2022) of the current financial year (FY2022-23) compared to 5.77 mnt seen in the year-ago quarter. There was drop across the three categories of flats, longs and billets. Flats exports fell 28% y-o-y to 2.64 mnt (3.68 mnt) in Q1. Longs fell 54% to 0.28 mnt (0.62 mnt) and semi-finished by 41% to 0.86 mnt (1.47 mnt) in this period.
From a q-o-q perspective, exports were down 13% from 4.33 mnt in Q4 (January-March, 2022). On a half-yearly basis too, exports dropped almost 20% to 8.11 mnt in January-June, 2022 against 10.08 mnt in the same period in 2021.
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