InvestorQ : Is it true that steel exports picked up substantially in the month of March 2021?
Arya Nanda made post

Is it true that steel exports picked up substantially in the month of March 2021?

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Anjana Aiyar answered.
2 months ago
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In the midst of the all the furore over economic slowdown, India’s steel exports recorded a big boost during the FY21. Just look at the numbers. Let us look at the two biggest categories of steels in India. Finished steel exports stood at 11.65 MT which is 31% higher yoy. Semi-finished steel exports stood at 7.25 MT which is up 153% yoy for FY21.

There was some strain on domestic consumption due to the lockdown but that was more than compensated by the spike in global demand. The exports of finished and semi-finished steel were at life-time highs. Close to 65% of the exports were in the first half of FY21 when China was importing aggressively. Export realizations globally are better than local prices.

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