+
India's Steel Exports Drop by a Third Amidst Chinese Competition
Steel

India's Steel Exports Drop by a Third Amidst Chinese Competition

India's steel exports have plummeted by 33% due to sluggish international demand and intensified competition from Chinese steel producers. Despite this setback, the robust domestic market has shielded local steel manufacturers from significant impact. The competition from China, which has been flooding markets including India, stems from both increased exports and competitive pricing strategies.

China's steel exports, including those to India, have surged recently, with Indian imports reaching a multi-year high during the June quarter. Chinese mills are reportedly undercutting rivals globally with lower prices. Consequently, Indian steel exporters have witnessed reduced sales to destinations like the Middle East and Vietnam, as these regions opt for Chinese steel. Notably, India's steel shipments dropped to 780,000 tonnes per month on average between January and July, compared to the 1.08 million tonnes averaged in the preceding year, based on SteelMint's data.

Despite the decline in exports, industry experts assert that Indian steelmakers will experience limited margin effects. Domestic steel prices remain strong, and internal demand remains favorable due to India's comparatively robust economic situation. In fact, Indian steel companies have prioritised meeting domestic market demands to support the nation's economic growth journey. The rise in steel production and consumption within India during the initial six months of the year reflects this strategy. According to Ranjan Dhar, Senior Vice President and Chief Marketing Officer at AM/NS India, the decline in exports underscores Indian steel mills' commitment to propelling India's growth through domestic market prioritisation.


India's steel exports have plummeted by 33% due to sluggish international demand and intensified competition from Chinese steel producers. Despite this setback, the robust domestic market has shielded local steel manufacturers from significant impact. The competition from China, which has been flooding markets including India, stems from both increased exports and competitive pricing strategies.China's steel exports, including those to India, have surged recently, with Indian imports reaching a multi-year high during the June quarter. Chinese mills are reportedly undercutting rivals globally with lower prices. Consequently, Indian steel exporters have witnessed reduced sales to destinations like the Middle East and Vietnam, as these regions opt for Chinese steel. Notably, India's steel shipments dropped to 780,000 tonnes per month on average between January and July, compared to the 1.08 million tonnes averaged in the preceding year, based on SteelMint's data.Despite the decline in exports, industry experts assert that Indian steelmakers will experience limited margin effects. Domestic steel prices remain strong, and internal demand remains favorable due to India's comparatively robust economic situation. In fact, Indian steel companies have prioritised meeting domestic market demands to support the nation's economic growth journey. The rise in steel production and consumption within India during the initial six months of the year reflects this strategy. According to Ranjan Dhar, Senior Vice President and Chief Marketing Officer at AM/NS India, the decline in exports underscores Indian steel mills' commitment to propelling India's growth through domestic market prioritisation.

Next Story
Infrastructure Energy

Bihar Launches Rs 53.4 Billion Green Energy Plan

The Bihar government has taken a major stride towards clean energy with the launch of two new policies and the signing of agreements totalling Rs 53.4 billion. These initiatives aim to generate 2,357 megawatts (MW) of renewable energy through solar, wind, battery storage, and other sustainable technologies.The Bihar Renewable Energy Policy 2025 and the Pump Storage Policy 2025 were officially introduced at an event in Patna. Designed to attract significant investment, the policies seek to position Bihar as a key centre for clean energy projects. Energy Minister Bijendra Prasad Yadav stated tha..

Next Story
Infrastructure Transport

Bids Invited for Rs 62.5 Billion Vizag Metro Project

The long-anticipated Visakhapatnam Metro Project has made significant progress, with the Andhra Pradesh Metro Rail Corporation inviting bids for the first civil contract under Phase 1 of the Vizag Metro. The estimated cost of this contract is Rs 62.5 billion.This engineering, procurement and construction (EPC) contract covers the design and construction of a 46.23 km viaduct spanning three corridors, including a 20.16 km double-decker four-lane flyover cum metro viaduct. The project also comprises 42 elevated metro stations across Visakhapatnam.Recently, SYSTRA Consultancy signed a Memorandum ..

Next Story
Real Estate

Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?