July 28, 2020: A report by Engineering Export Promotion Council of India revealed that export of iron and steel products from India witnessed a sharp rise of more than 100% in June. Iron and steel recorded more than 100% growth in exports during June 2020 with shipments of USD 1.32 billion against USD 653.5 million in the same month last year. During June, exports of iron and steel to China rose by over 1400% to USD 524 million from USD 35 million in the same month last year, to Vietnam it went up by over 700% to USD 183 million and to Taiwan, the increase was 200% to USD 35 million.
A drop in domestic demand, disruption in supply chain and acute shortage of construction labour led several top steelmakers to export more than 50-60% of their sales volume during May-June period.
Source: Steel Guru
