Steel exports shoot up by 30 per cent in December

12 Jan 2023 CW Team

While exports of alloyed steel fell by half, key export offerings of non-alloyed steel experienced their highest-ever sequential growth this fiscal year, reaching 271 per cent over the previous month. However, exports nearly halved (down 54 per cent year-over-year) for the April-December period, according to a steel ministry report. This was due to the global recessionary pressures and the previous impact of duty levy on exporters.

As an anti-inflationary measure, in May a 15 per cent export duty was imposed. Steel exports fell to 4.74 million tonnes (mt) in the first nine months of FY23 from 10.33 mt in the previous fiscal year. According to the report, India exported 442,000 tonnes in December, compared to 338,000 tonnes in November. Despite an increase in imports of 27 per cent and a decrease in exports during the first nine months of FY23, India was a net exporter of steel.

After the announcement of the removal of export duties, sentiments clearly improved. These will take some time to show up in numbers. Europe received more inquiries in December, and deliveries are scheduled for January. Order placements were lower than anticipated due to the approaching holiday season in the Western world, according to a trade source.

In anticipation of better prices in January, Indian producers of hot-rolled coils reportedly withdrew their existing quotes from the market in December.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..