Diabytes
Steel exports News
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Washington's duty-free quotas for steel imports from South Korea and other countries have also been abolished.
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The key import sources for the US include Canada, Brazil, Mexico and South Korea. In 2024, the US witnessed a sharp rise in steel exports from Vietnam, Taiwan and Brazil.
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Japan is threatening to take India to the WTO over restrictions that nearly halved its steel exports to the South Asian nation over the past year, a step that could trigger more trade spats as global tensions over steel and other commodities run high.
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India's domestic steel consumption in February fell for the first time in the last three months by almost 2 percent to 6.84 mt, something that doesn't augur well for the industry, which is banking on demand to pick up to spur growth
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India's iron and steel exports plummeted by 41 percent to USD 4.57 billion in September against USD 7.69 billion a year ago, hit by a subdued economic sentiment mainly in the commodities market.
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The government should sort out internal challenges at a time when the domestic steel industry is facing challenges from China, Tata Steel Managing Director (India and South East Asia) T V Narendran said Saturday.
Exports were up by 21.2 percent during April-May this year to 0.982 MT.
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