Export volumes reached their highest level for the six-month period since H1FY’22, when shipments had totalled 11.3 mnt.
Higher shipments to the UAE, Vietnam, the UK, and the US more than offset a 26% decline in exports to the European Union (EU), as Indian mills redirected material towards alternative markets amid a tighter European steel safeguard regime and caution regarding carbon costs under the Carbon Border Adjustment Mechanism (CBAM).
Within carbon steel, the export expansion was concentrated in hot-rolled coils (HRCs) and plates and semi-finished steel. HRC and plate exports rose 89% to 1.8 mnt, while billet shipments more than doubled to 1.14 mnt. Together, these two categories accounted for 2.93 mnt, or about 53% of total steel exports.
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