India's hot rolled coil exports to EU hit record high

According to the report, the European Union (EU) imported nearly 160,000 tonnes of hot rolled coil (HRC) from India in April, setting a record for India's hot rolled coil exports to the EU since October 2021. Meanwhile, the EU imported around 837,000 tonnes of HRC in April, up 47% from last month.

In addition, Indonesia also exported around 60,000 tonnes of HRC to the EU, more than the total sales of the last ten months, as Indonesian HRC is on the developing country list of the EU steel safeguard measure.

Chinese suppliers have recently faced pressure from India and Indonesian HRC exports to the EU have been steadily increasing. It seems difficult to compete with Asian rivals in the next few months.