Global steel imbalances raise scope for Indian exports in Apr-Jun: Platts

As of April 12, HRC steel prices were $300/tonne higher. India has already exceeded its EU quota by 40,000 tonnes this year but hopes steel will be allowed given coil shortage in Europe

India continues to play a bigger role in international steel trade but this year has switched to focus supply on Europe than China and Vietnam, S&P Global Platts said in its report today.

Last year India exported significant volumes of steel to China and Vietnam at a time when its economy had yet to recover from the pandemic. This year, however, India has largely switched its "swing supply" focus to Europe as northern European hot-rolled coil (HRC) prices in January were around $65 per tonne higher than Indian domestic HRC prices.

As of April 12, 2021 prices of the steel product were