Indian steel firms race to plug demand gap in China amid Covid-19 crisis

Indian steel companies have cracked open an export opportunity in China — the world’s largest producer of alloy — due to the disruptions caused by the Covid-19 pandemic. 

Domestic firms are racing to plug the demand gap in China. In April and May, domestic steel producers exported mostly semi-finished steel to China. Overall exports of semi-finished steel rose 66 per cent year-on-year in April. Though the exact figure for semi-finished exports to China is not known, steel producers say a bulk would have gone to China. The share of semi-finished steel in total exports stood at 26 per cent in FY19,