India was a net importer of finished steel during the first five months of the financial year that began in April, with finished steel imports rising 29.5 pct YoY to 3.5 mln tons, according to government data cited by Reuters.
China was the largest supplier during April-August, accounting for 31.8 pct of India’s total finished steel imports. South Korea, Japan, Indonesia and Vietnam were among the other leading suppliers.
Finished steel exports increased 34.1 pct YoY to 2.99 mln tons during the period, with Vietnam the top destination, followed by the UAE, Italy, Belgium and Nepal.
HRC and strips were the most traded finished steel products in both import and export markets.
India’s crude steel production rose 2.8 pct YoY to 71 mln tons during April-August, according to the government data.
