Tartar steel posted losses in the last two quarters of f enty, and j s w steele saw its profits declined by a massive 90%. Domestic demand took a nose dive, and they had to tap the export market to stay afloat. Luckily for them, an unlikely destination opened up, china. China became the biggest buyer of indian steel between april and september as they began opening up their borders after having dealt with cowid a few months prior.