Indian steel mills have made significant strides in expanding their export footprint, capitalizing on new market opportunities in Europe and the Middle East. In April, the volume of finished steel exports surged by nearly 13% compared to the same period last year, reaching a total of 0.9 million tonnes. This growth indicates a promising trend in India's steel industry, with overseas markets showing increased demand for Indian steel products.
Notably, European countries, led by Italy, have emerged as key buyers of Indian steel. Italy alone accounted for the purchase of 0.21 million tonnes, marking a substantial increase of 59% compared to the previous year. This surge in demand reflects the quality and competitiveness of Indian steel in the global market.
In addition to European markets, the Middle East has also witnessed a significant surge in steel imports from India. Shipments to the region more than doubled in April, showcasing the growing preference for Indian steel products in this market. The robust growth in exports to the Middle East further bolsters India's position as a reliable supplier in the global steel industry.
Source: SteelGuru
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