China's Surge In Steel Exports Rattles Indian Producers

India may be the world’s second-largest steel producer, yet it continues to grapple with reliance on steel imports. In the last few months, China has emerged as a major steel exporter to India, leading to protests from India’s domestic sector. Indeed, India’s June 2023 steel imports rose by 5.9% month-on-month and 7.6% year-on-year. Alongside China, the country also saw increased shares from Vietnam. The primary concern among local steelmakers is protecting their interests while avoiding negative impacts on local steel prices.…