Photo: BloombergMumbai: In March 2017, India’s beleaguered steel industry achieved what had been unthinkable even a few months ago. on steel imports, an important factor was also the fact that Chinese steel exports had started plunging. Data sourced from the International Trade Centre (ITC) reveals that starting January 2017, Chinese steel exports have been dropping by at least 25% year-on-year every month. An analysis by Mint of steel trade data since January 2016 also reveals that India’s steel exports are more or less negatively correlated to China’s exports and its own imports. In other words, the growth of India’s steel exports are as dependent on a fall in Chinese steel exports as they are on a fall in India’s own steel imports.

Source: Mint December 28, 2017 21:11 UTC