Steel majors such as Tata Steel, Essar Steel, Ispat Industries, Jindal Iron & Steel (Jisco) and Jindal Vijaynagar Steel (JVSL) have slashed their exports, in some cases by as much as 50 per cent, to China, following the recent alerts from the Chinese government.
India has overstepped its export limit of 3 per cent as specified by the World Trade Organisation and has reached 6 per cent till date.
With the firming of prices in the US and European markets recently, domestic manufacturers are shifting focus to these regions.
Domestic steel major, Tata Steel is reducing their exports of galvanised products to China by 50 per cent, in the next quarter.
