Steel Exports Seen Up 15% In July-Sept

Steel exports are likely to increase by 10-15 per cent in the July-September quarter after a slump of 14 per cent in the first quarter (April-June) of the current financial year as domestic steel producers are scouting for new markets in Europe, government sources said.

China and other south-east Asian countries had emerged the main markets for Indian steel makers after the European Union (EU) and the US levied anti-dumping duties, making steel exports to the latter countries less profitable.

But a rise in steel prices in the international market will now make up for the losses, sources said. The export figures for the April-June period is yet to come. Total exports of finished steel for April and May have been recorded at 4 lakh tonne. This apart, only 30,000 tonne of semi finished products were exported during the two months.