Date: 23/06/2022

Steel exports seen declining by 40 pc in FY23
As a result of the duty-related measures taken by the government last month, India’s steel exports are expected to come down by 40 per cent to 12 million tonnes (MT) in the ongoing fiscal, said CRISIL. The combined export volume of iron ore and pellets is expected to see a massive drop from 26 MT last fiscal to 8-10 MT in the current one and bring about a sharp correction in domestic prices. The removal of import duty on coking coal and PCI coal, meanwhile, has brought down costs for integrated steel producers, who are largely dependent on the import market, said a report.
Source: Exim News Service: New Delhi, June 22