The Rise of Steel Export from India: A Game Changer in the Global Market

Key Highlights

• India's steel industry is changing and starting to make a big export contribution to the world market.
• As per steel export data, India exported more than $13 billion worth of iron and steel in fiscal year 2023, despite a 42% decline in value.
• Steel exports from India can be lucrative, but they also require cost control and competitive pricing to be successful.
• India's growth as an exporter is being fueled by its advantages in steel production, low costs, and worldwide demand.
• India is the largest steel exporter in the world after China, while Germany, Italy, and the United States are the top importers of steel.
• Based on steel exporters data, India exports steel to the Middle East, South Asia, Southeast Asia, and developed nations. 

Did you know? India's steel sector is experiencing a transformation. Once a significant steel consumer, the nation is now recognised as a substantial exporter on the international scene. Due to this surge in steel exports from India, Also, India has long been one of the biggest steel producers but has only recently become a significant exporter. 

In the fiscal year 2023, the export of iron and steel from India produced a net export value of more than 13 billion dollars. There was a 42% drop in value compared to the previous year. In this blog post, we will discuss the rise of steel exports from India. We also explore the list of steel exports from India, steel exporters in India, steel export data, and its HS codes.

Is steel exporting a profitable venture?

Although exporting steel has the potential to yield significant profits, financial success is not a given. Selling competitively and maintaining low production and transportation costs are essential for success.

Effective domestic manufacturing, global steel costs, and governmental regulations are essential. In this fast-paced economy, making a profit requires careful planning.

Due to the increasing demand for steel products, business owners can make money in this sector. Establishing a steel import-export company demands meticulous preparation and understanding of market dynamics. To understand the updated market insights regarding steel exports from India, or the list of steel exporters in India, you can obtain it from Eximpedia.app anytime!

Why are steel and iron being exported from India?

Since iron and steel are essential to many modern infrastructure projects, including bridges, skyscrapers, cars, and machinery, India has emerged as the world's top exporter of these materials. India exports steel and iron for a variety of reasons, such as:

• Extensive Steel Production: India has several advantages over other countries in the steel industry, including low wage prices, a skilled workforce, and an abundance of iron ore supplies. Due to these benefits, Indian steel producers can produce steel at a lower cost than many of their international rivals.
• Steel Market Demand: Global markets are seeing an increase in the demand for steel due to several factors, including urbanization, industrialization, and infrastructure construction. The rise in demand has given Indian steel exporters the chance to reach international consumers with their goods.

The Rise of Steel Export from India

Due to rising demand from the European Union and stable global prices, India's monthly steel exports reached an 18-month high of 1.1 million metric tons in January 2024, according to steel export data.

Additionally, the research organisation stated in its most recent study that competitive domestic steel prices helped to drive up exports. 

• According to steel exporters data, 0.67 million metric tonnes of steel were shipped out in January 2023.
• Based on SteelMint, "good restocking demand from the European Union (EU) contributed 67% of the 1.11 MT (export) in January." This is one of the causes of the rise in exports. The last 18 months saw its highest level."
• The global pricing for hot rolled coil (HRC) was USD 710 per tonne, or roughly Rs 58,000, while the price in India's trade segment was Rs 54,300/a tonne.

Also, Look into India Top 10 Exports 2024

Now, explore the top steel exporting countries!

Top 10 Steel Exporting Countries in 2024

Based on steel export data, the top 10 steel exporting countries are:

So, China is considered the largest exporter of steel. However, these are the leading exporters of steel, and the list is continually changing due to changes in consumer tastes and financial factors. The steel industry will grow even more dynamic and integrated in the future due to the growing popularity of global trade.

It can be quite helpful to know which steel importers are the best and what their preferences are, whether you're a steel enthusiast or a business trying to expand. Check out Eximpedia.app. All of the most recent steel exports from India, steel exporters in India, steel HS codes, and updated steel export data are easily accessible from a single dashboard.

Now let’s explore the top steel importing countries!

List of Steel Importing Countries

Based on steel import data, the most significant steel importing countries are:

These are the top steel importers, and the list constantly evolves as customer preferences and economic reasons shift. With the increasing popularity of online shopping and global trade, the steel industry will become more integrated and dynamic.

Knowing the top steel importers and their specific preferences can be extremely useful, whether you're a steel enthusiast or a company looking to grow into new markets. Visit Eximpedia.app.

A single dashboard readily provides the following:

• All of the most recent steel importers in India.
• A list of steel exports from India
• Steel import companies in India.
• Steel HS codes.
• Updated steel import export data.

To learn more about steel importing countries, click here!

India’s steel export destinations

Steel exports from India are going to a wide variety of nations. Here's a summary of the prominent locations:

• Developed countries: India's steel finds significant market share in the United States, Europe (Belgium, Italy), and Japan.
• Southeast Asia: As developing nations like Malaysia and Vietnam expand their economies, they are importing more steel from India.
• South Asia: Nepal is a significant importer of Indian steel, an exceptionally long item.
• Middle East: Another important market for Indian steel exports is the United Arab Emirates.

Indian steel is becoming more than just a domestic supplier; it is actively influencing the global market. The Middle East, Southeast Asia, South Asia, and developed countries are all included in this diversification, which guarantees an intense export scenario for the Indian steel sector.

However, if you require accurate steel export or import market details, Eximpedia is here to provide you with the updated suppliers, buyers, and particular HS codes for your desired products.

How to find steel exporters in India?

To find out the top steel exporters and importers globally, visit our dedicated data-driven platform, Eximpedia.app. Here at our dashboard, you can quickly obtain information for traders, such as list of steel exports from India, steel exporters in India, steel importers in India, steel export data, steel HS codes, etc.

So, explore our exclusive dashboard to access global trade data for 130+ countries, updated import-export trade data, and county-specific HS codes.

Final Words!

Since steel exports from India have the potential to yield significant profits, financial success is not a given. Selling competitively and maintaining low production and transportation costs are essential for success. 

By exploiting possibilities and overcoming challenges, India can continue to drive its economic growth and impact the world's infrastructure. India's steel exports offer a fascinating window into how the country rose to prominence on the world stage.

If you have any concerns concerning steel export data, steel exporters in India, steel HS codes, or steel exports from India, you can get in touch with our knowledgeable professionals and arrange a free live demo! 

FAQ's

Q1. Who is the largest exporter of steel in India?

Based on steel exporters data, the largest exporter of steel in India is  JSW Steel.

Q2. Which country imports steel from India?

As per steel export data, the top India’s steel export destinations are: Nepal, Italy, Belgium and UAE.

Q3. What is the value of steel export from India?

Based on steel import export data, the export of iron and steel from India produced a net export value of more than 13 billion dollars In the fiscal year 2023.

Q4. Which metal is highly exported from India?

India is one of the top producers and largest steel exporter in the world. At the moment, 29.5 million tonnes of iron ore worth Rs. 1769 crores are exported.

Q5. Who is the biggest steel importer in India?

Traders can export steel from India very easily, the biggest steel importer in India is China.

Q6. What are the 5 largest producer of steel?

The Largest Steel Producers in the World are: China – 1,032,790 kt?, India – 118,201 kt?, Japan – 96,334.5 kt?, United States – 85,791.4 kt? and Russia – 75,584.8 kt?

Steel Exporting Countries

Export Steel from India Export Steel from Japan

Export Steel from United States

Major Steel Exporters

Steel exporters in India Steel exporters in South Korea

Steel exporters in Japan