Steel exports down a third amid weak global demand, Chinese competition

30 Aug 2023 CW Team

India's steel exports have declined by a third in 2022 compared to last year due to tepid global demand and increasing competition from China, a new report reveals. Data from SteelMint shows average monthly finished steel and billet exports fell to 780,000 tonnes between January-July 2022, down from 1.08 million tonnes in 2021. Experts say this is because Chinese mills have sharply increased steel exports, including to India, with shipments hitting multi-year highs in recent quarters. Chinese producers are also undercutting prices, leading countries like Vietnam and Middle East to buy more steel from China rather than India.

However, Indian steelmakers are unlikely to face major margin impacts given robust domestic demand and prices. Analysts say India remains the sole bright spot for steel demand globally amid lackluster conditions in China, US and Europe. Though exports have dipped, India's domestic steel production and consumption rose in Jan-June 2022 as mills prioritized local requirements to aid growth. The resilient local demand will also help maintain stable steel prices in India.

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..