The newspaper writes that Russian steel exports to India increased by 48 percent in 2023, reaching 686.5 thousand tons. “Vedomosti”. In monetary terms, the increase was 34%; raw materials were sold for $429 million.
Meanwhile, analysts say that the Indian market is the most unprofitable for Russian manufacturers. There are several reasons for this: expensive logistics, high discounts and the inability to supply high value-added goods.
Until 2022, Russia’s share in India’s ferrous metal imports was critically small. However, supplies had to be redirected due to trade problems with EU countries due to Russian sanctions. Russian steel currently accounts for about 2.6% of Delhi’s purchases.
India purchased a total of 26 million tonnes of steel last year. This is more than double the 2022 value. The main importers were South Korea (2.75 million tons), China (2 million tons) and the USA (1.92 million tons).
Before that Russia came It is in the top 3 in supplying fertilizer to India.
Previously reportedHe said that the Russian Federation increased the share of oil exports to friendly countries to 86 percent.