India’s finished steel imports fell 34.1pct YoY to 3.8 mln tons during the first seven months of the financial year (April-October), according to provisional government data cited by Reuters.
Despite the decline, India remained a net importer during the period. South Korea was the largest supplier with 1.4 mln tons, followed by China, Japan, and Russia.
Meanwhile, India’s finished steel exports rose 25.3pct YoY to 3.5 mln tons, with Italy and Belgium serving as the top destinations, followed by Spain.
Finished steel production in April-October reached 91.6 mln tons, while crude steel output totaled 95.7 mln tons. Consumption grew 7.4pct YoY to 92.2 mln tons over the same period.
