India could become a net steel exporter in the current fiscal year, which ends in March 2017. The growth in exports over steel imports is taking place against the backdrop of improved world prices, a decline in retail sales, and demonetization in the country.
In April-November, exports increased by 53 percent compared to the same period last year to 4.24 million tons. On the other hand, imports fell 39 percent to 4.73 million tons. With another quarter ahead, the sector expects exports to outstrip imports.
Last year, India recorded a record level of imports of 12.7 million tons, while exports were below current levels. The economic impetus is now the increased prices in the international market. At the same time, the Indian government introduced trade measures, a minimum price guarantee for steel imports and anti-dumping duties to bolster the industry.
India may become a net exporter of steel
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Azovpromstal® 24 December 2016 г. 10:36 |
