India’s finished steel exports in the fiscal year 2021-22 lost significant ground in the key market of Vietnam, but overall finished steel exports more than made up for this by higher sales to alternative markets, data of the Joint Plant Committee (JPC) under India’s ministry of steel showed.
India’s hot rolled coil (HRC) exports to Vietnam were recorded at 1.66 million mt in FY 2021-22, down 20 percent year on year, the data showed.
However, total finished steel exports from India during FY 2021-22 came to 13.5 million mt, up five percent year on year largely owing to higher sales to alternative emerging markets such as the UAE, Turkey, and Spain and Italy in the EU.
Of the total Indian finished steel exports, sales to the UAE amounted to 1.3 million mt, up 50 percent, and sales to Turkey came to 1 million mt, a rise of 350 percent, both year on year.