“So far there is no impact in our supply chains. We do not import any raw material from Russia or Ukraine,” said an executive from a top steelmaker.
While finished steel from India is exported largely to the Middle East, Japan, Turkey and China, India’s export exposure is not significant to Ukraine or Russia, experts said. “We do not export much to Russia or Ukraine. On the import side, while finished steel may not be impacted, there might be a disruption or supply shortage of semis like billets in the international market,” Jindal Steel & Power MD VR Sharma said.
Globally, steelmakers are a little worried as ‘city of steel’ Mariupol is under attack. “Global steelmakers are worried about the attack in Mariupol where major steel companies are based … semis to the Middle East and North African (MENA) countries might go in short supply due to this,” Sharma said, adding that the company was willing to increase capacities and supply to MENA countries if there was a need.
