Exports and imports represent a dynamic situation that continues to fluctuate depending on factors such as the cost of raw materials, the exchange rate, domestic demand, world steel prices, stocks, global market demand and competitiveness.
India's total finished steel exports fell 23.1 percent to 0.598 million tonnes in October 2018.
India should reduce its dependence on imports of specialty steel products by encouraging their production in the domestic market. However, steel is an unregulated sector and a joint venture to modernize technology is a purely commercial decision that depends on many aspects.
Despite being the second largest steel producer in the world, India is still dependent on imports of specialty steel. There is a need to develop in-house electrical steelmaking capabilities to make the industry self-sufficient. The government is actively working on this problem.
SAIL and Arcelor Mittal recently entered into an agreement to establish an automotive steel plant. This solution is intended to help one of the problematic segments of imports. There was also a merger between Tata Steel and Thyssenkrupp, which will help in the production of electrical steel. The Indian Steel Research and Technology Mission was also established to carry out research and development to improve the metallurgical sector.
Decrease in steel production and exports in India
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Azovpromstal® 3 January 1992 г. 10:08 |
