India Steel Exports Jump 33% in April–December, Govt Data Shows

India remained a net exporter of finished steel during the first nine months of the financial year. Exports rose 33.3% year-over-year to 4.8 million metric tons, based on provisional government data.

During the same period, India imported 4.65 million metric tons of finished steel. Country-wise export details are expected to be released later this month.

In December, the government imposed safeguard duties on select steel imports to curb cheaper inflows. This was mainly from China. The levy has been set at 12% in the first year, 11.5% in the second year, and 11% in the third year.

Between April and December, India produced 117.6 million metric tons of finished steel. Consumption stood at 119.3 million metric tons. Crude steel production during the period totaled 123.9 million metric tons.

In January, major domestic steelmakers raised prices of hot-rolled and cold-rolled coils by up to Rs 2,000 per metric ton. Hot-rolled coil prices ranged from Rs 50,250 to Rs 51,250 per metric ton, according to industry estimates.

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