MGT Social Media Posts, page-55

The Indian industry has also asked their government to heavily restrict steel exports as they just don’t have enough for their own economy.

Their was also an article approx EoFY where the Indian government stated they wanted their mills to expand production exponentially so they can become a bigger player and rely less on imports.

All in all it’s great for raw product producers, gives us another large point of sale and will slightly help with any adverse effects from China.

Yes India’s production is tiny compared to chinas however with several major economies ramping up production it all helps.

In saying all this I would be more than happy if Whyalla would purchase all of our I/O.
- It’s our current choice of export port so transport is already costed.
- The mill is looking to upgrade to electric arc/hydrogen which is great for “green” steel.
- Increasing production at the mill increases local jobs and stimulates the local economy, it also helps us become less reliant on imports & likely the quality would be far superior.
- The cut in Chinese production has also been levelled at increasing our steel import price, driving the cost of our projects higher. This effectively negates the bonus of our I/O export & relates back to producing our own goods again.
- I’ve also mentioned previously that there is a chance we may be forced to stop selling I/O to china. A case of history repeating itself when we stopped selling to Japan prior to WW2. :/