steel export

Indian government may reduce export duty on steel and iron ore

India's imports of iron ore and steel are rising amid declining exports, requiring government action to remedy the situation

India’s steel export duty will act until at least December 2022

The effect of the export duty in the next few months will be a stabilizing factor in the market and will prevent its volatility

India reduced the rolled steel export by 66% y/y in August 2022

In April-August 2022, exports of rolled steel from India fell by 53% year-on-year – to 3.02 million tons

Turkey cut steel production by 21% y/y in July 2022

Steel exports for the month decreased by 23% y/y

Russian steel producers continue to export to the EU in sanctions’ violation

Russian NLMK supplies products to the EU market through the Belgian subsidiary NLMK Belgium Holdings SA and SOGEPA

The restoration of steel exports through the ports is not yet considered – MIU

The grain agreement has a target character and is part of international agreements

The European Union reduced steel exports by 14% y/y in the first half of 2022

Shipments of flat steel products from the EU decreased by 11% y/y in 6 months, and of graded rolled stee by 21% y/y

Brazil increased steel exports to the EU by 9.3 times in January-May

According to the results of 5 months, Brazilian products took 15% of the total EU steel imports

In 2022, steel production in Ukraine may fall to 7.6 million tons

4.7 million tons of rolled steel exports are expected at the same period

Turkish exporters expect $1bn extra profit due to Russian sanctions

Additional income is due to quota shifts for non-EU countries

Ukraine’s revenues from exports of iron & steel jumped 37% in January

Over the month, export revenues amounted to $1.02 billion