Japanese steelmakers shipped 2.06 million tons of steel materials to India for the January-October period, up about 60% from a year earlier, according to the Japan Iron and Steel Federation.

The likes of JFE Holdings unit JFE Steel are exporting more hot-rolled coil to metalworking companies in India that are processing the steel for appliances and construction materials. Nippon Steel & Sumitomo Metal has stepped up exports of base material for an Indian facility that began processing steel sheet for automobiles last year.

South Korea has been Japan’s largest export market for steel this year, followed by China, Thailand, Taiwan and Vietnam.

Source: Nikkei