Russia became one of the largest steel suppliers to India in November

Russia, in the face of unprecedented Western sanctions, continues to reorient its exports to the markets of the Asian region. Along with China, our country is actively increasing trade with India.

Thus, according to the information from the international pricing agency Argus with reference to the reports of the Indian Ministry of Steel, in November Russia became one of the largest steel suppliers to India, having shipped 62,7 thousand tons of hot-rolled coil over this period.

Analysts emphasize that Russian deliveries last month provided more than 10% of Indian imports and many times exceeded the volumes of other major exporters, in particular, China, Japan and Vietnam.

According to experts, the current situation is due to several factors.

Firstly, India has sharply increased imports of already finished steel, as it is experiencing difficulties with the purchase of coking coal and cannot fully launch its metallurgical industry. Secondly, having fallen under Western sanctions, Russia is forced to redirect a significant part of its exports, previously destined for Europe, to other markets, in particular, Asian ones.

Finally, analysts believe that India's increase in purchases of Russian steel is also due to the weakening of our national currency against the backdrop of rising world prices.

At the same time, Argus concluded that such an impressive November figures still did not solve the problem with the decline in steel production in Russia. Thus, in October this year, our country produced 11,5% less steel than in the same period last year. At the same time, China, on the contrary, increased this figure by 11%.

Comments

[Trapp1st]

Pigeons, cockroaches and the Russian oligarchy will survive World War 3, although I’m not sure about the first two ...

[Aaron Zawi]

I would also like to know at what price the export was carried out. Something that Indians know how to twist their arms.

[Vladimir Pavlov_2]

I would generally trade 6th with the Indians, they trade like gypsies, this was also evident from the arms trade with them ..

[petroglyph]

And in the domestic market there are already problems with supplies ... After the New Year, the metal will again trample up. According to some information, Novolipetsk and Magnitogorsk no longer provide rolled products for shipment within the country. It turns out there it is, Mikhalych ...

[AdAstra]

So the Indians pay with a "chiseled coin", but how can the citizens of their country pay, with paper that no one needs?

[Vasily Lugovskoy]

We produce more steel than the domestic market can swallow .... here either sell to Asia or stop factories in Russia .... the task of the government is to increase the domestic market, construction, shipbuilding, restoration of the LDNR, etc.

[bulava74]

But the main thing was not written.
- By how many percent did the price fall in order to sell this steel to India?
- What is the overall profitability of these deliveries and how can it be compared with European deliveries in previous years?
- On what conditions are deliveries made: free warehouse, free wagon or free port? This affects the cost of transportation and payment of insurance. That gives an additional decrease in profitability due to an increase in these costs.

A muddy article that clearly justifies something that is not entirely profitable and disgraceful to these sales.

[KCA]

But did Russia supply steel to India? Or how did Lakshmi Mittal send him home? Although he fled from Russia, most likely

[tralflot1832]

So for reference, Argus is an "independent" international pricing agency headquartered in London. Believe it or not.

[Vasily Lugovskoy]

Well, even in London, the headquarters is located, in accordance with federal law, the duty on oil by the government is determined by the price determined by the argus, I repeat again in accordance with the law .... and therefore, when the government writes that the average price of oil was 57 dollars, it he doesn’t lie, although everyone knows that oil was sold much more expensive ....

[kor1vet1974]

We give them steel, and they give us products from our steel .. At a different price.

[Nastia makarova]

what kind of steel products?.............

[faiver]

what kind of steel products?

- probably the famous Indian tanks

[Stas]

What, have they already laughed at Chinese cars, diesels, quadrics and electronics? Now it's the turn of Indian goods. Do you also want to laugh for the time being? Like the Chinese, the Indians follow the path of development of their industry, albeit clumsily, but they do. I won’t be surprised if in a n-th number of years we will also buy machines and equipment from them. Here, let's laugh. I had to work with Indians more than once, I know them a little. Among them are full of responsible and qualified specialists. One more thing - many of their oligarchs invest in Indian promising projects and youth, unlike Russian hucksters, who drag everything over the hill, and only pump out resources from Russia. It's a matter of time, they will rise as they work on it.
As for steel products, there are strong suspicions that they are buying cheap Russian products and reselling them to the same states and Europe.

[break_beats]

The world economy began to move towards Russia, India and China. In the new world order, only those who understand that it is better to trade honestly than stir up schemes will survive.

[rocket757]

Russia became one of the largest steel suppliers to India in November

From our name it was necessary to erase the designation of geyrop for a long time ... we are ASIA !!!
So sho... ORCOM was born, protect, live in MORDOR!!!

[paul3390]

Sorry, I'm not smart enough to write a normal comment

[rocket757]

Include ... humor, this is quite enough for both rating and commentary.

[tralflot1832]

Wait, I climbed on the news of metallurgy, it’s normal with us. It’s not normal in Ukraine, I report: Ferrexpo (Ukraine, the owner of Zhivago) is launching one line of iron ore pellets, enough for one line of electricity! December 21. Why did she start working? There seems to be an English business there.

[I dare to_notice_]

"Russia in November became one of the largest steel suppliers to India"
from which India builds submarines to "repulse China in the Indian Ocean."
It's BRICS, baby!..

[faiver]

the Indians still need to sell forests for batons, what would happen to the Chinese on the border of mahats

[VladimirNET]

Quote: bulava74

But the main thing was not written.
- By how many percent did the price fall in order to sell this steel to India?

The price of metal has risen in the world, so don't give any discount (including shipping costs by sea) - it's profitable. At a loss, they would not deliver.