Faced with excess global steel supply and fierce competition in the export market, Indian mills intend to pay more attention to domestic market, rather than compete with Chinese products, lower prices or no profit to export.

       According to statistics, in the second quarter, India's steel exports volume reached 991,000 tons, down by 31.7% year on year. One of steel mill said that HRC price at least reach 380-390 US dollars / ton (FOB) in order to remain profitable, while the price of same product in China is only USD 310-315 / ton (FOB). Indian mills have refused to offer the Middle East. In their view, to cut production and pay attention to domestic market can keep the company out of loss. 

                                                                  XINSTEEL NEWS