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Faced with slackening prices in China, steel producer Ispat Industries is now turning to Europe and Middle East which are witnessing northwards movement of demand and prices.
"We are looking at Europe and Middle East for exports as prices there are better and the demand is also very high, " Vinod Garg, executive director, Ispat Industries, told PTI in New Delhi.
Garg said while Chinese prices -- which were ruling at about $100 less than the global prices -- may improve from July onwards, the company was exploring alternative markets for exports.
He said Italy and Spain were witnessing good demand with prices ruling at about $580 per tonne.
Ispat was also making substantial exports to Dubai and Iran which also posed good demand, he said, adding that the company was not exporting so much to the United States because of the 43 per cent anti-dumping on steel imports.