Moody's: India's steel exports to continue strong in coming months

(Daiphuc corp) - India's steel exports are expected to remain strong in the coming months as higher prices and regional demand will prompt steel companies to redirect some of their output to exports, according to Moody's Investors Service.

In the report 'Steel - Asia Pacific: Higher raw material costs reduce benefits of steel price hikes amid Ukraine conflict', Moody's Investors Service said, "We expect steel exports India's will continue to be strong in the coming months."
Moody's also expects domestic steel demand to grow by about 10% in 2022 as the government continues to focus on building roads, railways, ports and airports.
"Elevated demand for cars and home goods also remains an important factor. However, a persistent shortage of semiconductors remains a drag on auto sales."
Steel producers that are judged to be highly self-sufficient in raw materials will be better positioned to withstand the risks arising from higher raw material costs and potential disruptions to raw material supplies. .
In particular, India-rated steelmakers, Tata Steel and JSW Steel Limited, are more shielded from these risks due to backward integration into the production of key steelmaking inputs.
South Korean steelmaker POSCO Holdings Inc and Chinese steelmaker China Baowu Steel Group Corporation Ltd are also moderately self-sufficient through mining investments.


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