New Delhi, Dec. 17 -- Indian steel exports are expected to see less growth in the coming months as overseas orders start to dry up. According to an Elara Capital report, exports jumped by 83 per cent in October to 0.73 million tonnes. This fast pace is unlikely to continue as the surge happened because buyers in Europe bought more steel to stock up before a new carbon tax starts there.

However, the report said that new orders have stopped for December, except for small amounts of coated steel products.

The steel industry in India is facing several challenges at once. Steel production in the country grew by 6 per cent in October to about 13.6 million tonnes. Early data for November shows that production is still going up, but the prices ...