Dollars have highly depreciated in the past one year. From 46/- to 41/- in a matter of 12 months, has effected the exports a lot. This has drastically effected the steel exports.China is getting a huge benefit of this despite their poor quality.
In the present scenario, the import of steel is much more viable. From China small coils of 1000 kgs approx. can be bought at USD 545 per mt,CIF Kolkata Port.Thus the cost comes around 29000/- per MT after taking into consideration all the government levies. Whereas in India, prices of HR Coils are 27500/- basic.
It seems the balance of trade in steel will once again face a drastic change in the future .
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