Steel exports still attractive amid hopes of demand revival at home

A prolonged monsoon, weaker demand, tight liquidity and a sharp fall in home prices affected the domestic steel industry in the September quarter

The steel export market continues to look lucrative for primary producers, even if India demand picks up in the second half of the financial year.

“With China closing down inefficient capacities, the common variety of steel is not available in the global market. This is good news, as China was simply dumping this grade across the globe. Due to this, export will continue to look attractive for Indian players,” Sushim Banerjee, director-general at the Institute of Steel Development & Growth, told Business Standard.

At its earnings conference on Wednesday, JSW Steel said its export in the September quarter had surged