India’s steel exports are on an upswing this year. During May-July’20, there has been a steady increase in exports due to COVID-19 lockdown impact that subdued the market completely. With rebound in domestic steel demand, exports have come down from Aug’20 onwards. However total steel exports in FY21 are anticipated to touch an all time high figures of 16-17 mn t.
Takeaways:
- 63% contraction in domestic demand due to pandemic-induced lockdowns
- May-Jul 2020 saw unprecedented levels of steel exports from India to the tune of 7 mn t.
- Steel exports in FY21 are anticipated to touch an all time high figures of 16-17 mn t.
- Know the key factors driving Indian steel exports
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