Iron, steel sold to China arrest plunge in engineering exports in June

Shipments to China rose by over 1,400 per cent to $524 mn in June from just $35 mn in the same month last year

Rising iron and steel exports to China, Vietnam, and Taiwan arrested the decline in outbound shipments of engineering products in June, on a year-on-year (YoY) basis, vis-à-vis April and May, shows an analysis by an industry body.

There was an overall decline, nevertheless, on account of shrinking exports of high-value items like consumer durables. 

According to EEPC India, iron and steel exports to these nations doubled to $1.32 billion in June 2020, from $653.52 million in June 2019. 

A bulk of the exports went to these three countries.