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India turns net steel exporter in March

Agmetalminer - Provisional data for fiscal year 2020 from the Government of India show India became a net exporter of steel with an increase of 31.4% in March 2020.

A CNBC report claimed India’s steel consumption had touched the psychological barrier of 100 million tons (MT) this fiscal year.

What’s more — and this bit of information will send a cheer through the Indian steel sector — steel imports were down 13.6%, much of it because of a 22% fall in steel imports from China this fiscal year.

According to a report by the World Steel Association, No. 1 producer China had reported a drop in its output. It produced 78.97 MT steel in March, down 1.7% as compared with 80.34 MT in the corresponding month of 2019, according to data from the report.

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