Tel :
Tel :
According to data from the Indian SMA570W steel Ministry of Steel, India's steel exports in September were 400000 tons, rising to 440000 tons in October, a month on month increase of 11%, and the market outlook is optimistic. A senior official stated that this growth reflects the recovery trend of the steel industry.
Meanwhile, for the first time in this fiscal year, India's SMA570W steel steel imports have decreased. The import volume in September was 1.1 million tons, which decreased to 980000 tons in October, a decrease of 4% compared to the previous month. The import restrictions imposed by the Indian government on countries such as Vietnam have contributed to this change, and domestic steel producers have seized the price advantage or obtained better pricing conditions in the third quarter.
Officials from Steel Authority of India SMA570W steel Limited (SAIL) revealed that the price of long steel products increased by 2% in October, reaching 53000 Indian rupees per ton (approximately 628 US dollars per ton). Driven by government spending on infrastructure projects such as highways, ports, and railways, it is expected that India's steel production will reach 152 million tons in the 2024-25 fiscal year, with an annual growth rate of 8%. With the acceleration of urbanization and the increase in national construction activities, the demand for steel in India is expected to remain strong.
