India - Latest news GMK Center

In 7 months of 2022, Russian steel exports to India increased by 4.4 times y/y – up to 149 thousand tons

The abolition of the export duty on steel in India may increase the import of cheaper products to the domestic market of Turkiye

In the future, this step may affect the European steel market

The country's government has returned import duties on coke and coking coal

The steel sector will need almost $244 million a year for compensation

The reason was high export duties and a decrease in demand from China

The production of rolled products in this period increased by 6.4% y/y

The decrease in iron ore production occurred as a result of the introduction of export duties on finished steel and steel raw materials

The stimulus for steel consumption in the country, in particular, was state investment in infrastructure

Sales volume fell by 10% compared to the same period last year

Steel production in India in April-September 2022 increased by 7% year-on-year

Due to this, it is planned to reduce problems in the industry and accelerate the achievement of the goal of 300 million tons of capacity by 2030