Indian steel export in July 2022 dropped a sharp 33% to 0.62 million tonnes (mnt) against 0.93 mnt seen in June, 2022. y-o-y, volumes plunged 76% compared to July 2021. Exports have been declining steadily m-o-m since the 15% export duty was slapped from 22 May this year. From 1.50 mnt in May’22 these slid to 0.93 mnt in June. Over January-July, 2022, volumes were at 8.83 mnt, dropping 30% against 12.50 mnt seen in the same period in CY 2021
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