India - Latest news GMK Center

In 2021, India imported 411 thousand tons of Australian iron ore

Steel production in the country fell by 2.5% y/y for the month

Production increased even before the abolition of export duties on steel and raw materials in November 2022

The peak nominal capacity of the blocks is 22.5 million tons per year

The current utilization of internal capacities is about 30%

For 10 months of the 2022/2023 financial year, the import of rolled steel increased by 28% y/y

Indian producers of ferrochrome are seeing good demand from European countries

Activity in Europe was affected by energy prices and recession concerns

Recovery of global steel prices and abolition of 15% export duty boosted export orders from India

Gradually, the country will increase the import of scrap metal, becoming the world's largest importer of such raw materials

Market reports indicate potential interest from Chinese buyers

Rise in import prices will increase the production of steel makers in India