India's May steel exports drop to lowest in 3 years.

• Author: Kazmi, S. Kamal Hayder
• Position: May 2019 - Brief article

Byline: S. Kamal Hayder Kazmi

India's finished steel exports in May fell to their lowest in three years as shipments to traditional markets in the European Union (EU) and Nepal shrank, preliminary government data reviewed by Reuters showed.

India exported 319,000 tonnes of finished steel in May, down 28percent from the same month last year and the lowest level since April 2016, the data showed. Steel exports to the EU dropped 55percent in May, led by fewer shipments to Italy, Belgium and Spain, which together made up about 80percent of India's overall exports to the region. That comes amid 'safeguard' measures by the EU that are designed to limit incoming steel and prevent a surge of imports as a result of Washington's 25percent import tariffs...