India metal exports likely to increase
News: On the back of the ongoing Russia Ukraine conflict, if there is any supply related disruption, it is likely to augment export opportunities for Indian metal companies (for both ferrous and non-ferrous players).
Views: On the ferrous front, Russia is the world’s fifth largest steel producer and a major steel exporter. In CY21, Russia’s steel exports were at ~30 million tonnes (MT). On the non-ferrous front, Russia accounts for ~6% of global primary aluminium production and is also one of major exporters of aluminium. On the back of the ongoing Russia Ukraine conflict, if there is any supply disruption, it would provide an opportunity for domestic metal players to step up their exports. As Q4 is traditionally a strong quarter for domestic demand, extra export sales would also depend on additional metal output available. Overall, the current scenario is likely to support healthy metal prices, auguring well for domestic metal companies