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Finished steel exports slumped 55% to 4.3 million tonnes during April to November period due to a slowdown in global demand and the decision by India to impose an export tax on some steel products. Last month, the government scrapped the export tax but steel makers and industry officials said it would be a challenge for mills to regain their traditional markets, including Europe.
India's finished steel exports more than halved during the first eight months of the current fiscal year that began in April, according to the latest government data reviewed by Reuters.
Finished steel exports slumped 55% to 4.3 million tonnes during April to November period due to a slowdown in global demand and the decision by India to impose an export tax on some steel products.
Last month, the government scrapped the export tax but steel makers and industry officials said ..