SMM10 March 29: recent preliminary data released by the Indian government show that during the period from April to September, China imported 1.9 million tons of Indian iron ore, accounting for 29% of India's total steel exports in the same period.
Between April and September this year, about 30 per cent of India's iron ore exports were bought by Chinese importers. It means that China is the largest buyer of Indian steel in the second and third quarters of this year. India's steel exports to China have rarely increased at a time of tension between India and China.
Meanwhile, data show that India's steel exports during the period were the highest in at least six years, at 6.5 million tons. Affected by the epidemic, India's economy is already in negative growth, domestic steel demand in India continues to be weak, and the domestic manufacturer has to export excess supply to the Chinese market.
