Indian steel producers and sellers expect higher exports to Europe and higher steel production costs due to the conflict between Russia and Ukraine. This week, an Indian mill sold a batch of hot-rolled coil in Europe to a trading company for $1,060 a ton, $100 a ton higher than before Russia invaded Ukraine on February 24. Russia and Ukraine are the world's top five net steel exporters, with most of their exports going to European countries. Sellers in India have seen an increase in inquiries from European buyers as Ukraine's steel industry has virtually ground to a halt and Russian sanctions put trade with the country at risk. From April 2021 to January this year, India finally exported 11.14 million tons of steel, a year-on-year increase of 26.1%. Vietnam was the biggest buyer, accounting for 12.5% of India's exports, while Italy accounted for 9.8% of India's steel exports. 
"Even after the war, it will take at least two months for the market to stabilize and we will see steel prices rise," said VR Sharma, chief executive of Indian producer JSPL. Indian steel exports to Europe are limited by EU steel support quotas. But some market participants were optimistic that the EU could ease those restrictions. Other countries may not be able to meet their quota for the next quarter and can move to India. A steel dealer in India too said any changes may take impact from July Some market participants also raised concerns about vessel availability and delays in European arrivals. The estimated time of arrival of some of our shipments already on the water has been delayed by 10 days. This may be due to the diversion and congestion of Black Sea cargo. Two Indian iron ore pellet producers also cited a lack of ships as a factor in not being able to complete the deal after asking European buyers. All exports stop in the Black Sea region. Ship owners don't bring materials there right away, so Eastern Europe is completely shut out, and even if India wants to export more to Europe, it will be difficult. From April 2021 to January 2022, India shipped 74,000 tons of finished steel to Romania. Most of India's steel exports go to Western European markets. 
Export Sponge Iron
According to the information published by the Iranian Steel Manufacturers Association (ISPA), Iran has not exported sponge iron during the first two months of this year (March 21 to May 21). ISPA data shows that this country exported 120 thousand tons of this product in the first two months of last year. According to the announcement of Iran's Mines and Mining Industries Development and Innovation Organization (IMIDRO), over the past 1400 years (as of March 30, 2019), Iran's sponge iron exports have grown by 25% compared to the previous year. Iran's Mining and Mining Industry Development and Modernization Organization, Iran's largest holding of metals and mines, named the creation of new sponge iron factories as one of the most important reasons for the increase in Iran's sponge iron production. In recent years, with its new strategy and with the participation of the private sector, this organization has been able to start several projects to produce sponge iron. In a separate letter to the Prime Minister, the West Bengal Sponge Iron Manufacturers Association said, "More than 60 per cent of the total (post-consumer) iron ore pellets available for sale in the market are from zero-tariff countries. Currently, more than 90 A percentage of high-grade iron fines goes directly to pelletizing, and exporting these fines goes against the prospect of producing 300 tons of steel by 2030. Most of the world's forged products, sponge iron, powdered iron is exported to America, Britain, and Germany. The top three exporters of iron products, sponge iron and powdered iron are India, China, and Vietnam. India was the largest exporter of iron, sponge iron and powdered iron products with 1,31,346 units, followed by China with 40,278 units and Vietnam with 12,832 units. Quantity, details of their current supplier and age of existence. Restricting the export of iron ore pellets will help bring down the country's steel prices to affordable levels, which in turn will help increase steel consumption. 
Export Sponge Iron by India
Indian sponge iron export demand limited by rising supply Steel Mint's weekly estimate for Indian sponge iron exports rose $10-15/t to $475-480/t CPT Nepal (Fem. 80%, lump 70%, fines 30%). Bangladesh offers are at $430-435 per ton CPT Beanpole. No new deals heard of bulk direct reduced iron (C-DRI) exports, but only one harrow sold at $415-420/t LTW pellet based direct reduced iron (P-DRI) from East India, equivalent to $435 -$440. t CPT Nepal. The sharp rise in prices led to a drop in export demand. Safe Energy General Trading LLC exported 20 shipments, one of its biggest export markets is India, other 3 top export product categories, Round Section, Stainless Steel: Cold Drawn or Cold Rolled (Cold Rolled), direct reduced iron go through foundry Read 1818 IST February 24, 2022 09:31 Nepal asks to support Indian sponge iron exports in 2022 9 take stock Facebook Share Button Twitter Share Button Email Share Button WhatsApp Share Button LinkedIn Share Button Exports of sponge iron from India are likely to increase this year due to higher bookings from neighboring Nepal. 
Nepal is the largest importer of Indian steel products. However, the country's imports of sponge iron from India have increased over the past few months. In 2021, India's sponge iron exports to Nepal increased by 59% year-on-year to 270,000 tons (metric tons). Increased smelting capacity: The Himalayan kingdom has increased its supply of sponge iron from India in recent years. Production will increase as the country's smelting capacity increases. Currently, Nepal's installed smelting capacity is about 500,000 to 600,000 tons per year, up from 400,000 tons previously. Currently, Nepalese steel mills melt about 80 percent of the sponge iron and the remaining 20 percent of scrap and other metals to produce one ton of molten iron. Removal of tariffs: It is worth mentioning that last year the Nepalese government removed tariffs and import duties on sponge iron from the existing 5% for the fiscal year 2021-22 (FY22) to promote domestic production growth. This encouraged induction furnace steel producers to import more sponge iron. 
Conclusion
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