China has emerged as the biggest exporter of finished steel to India during the April-November period of the fiscal year 2023-24, shipping an estimated 1.3 million mt of the total 4.3 million mt of finished steel coming into the country in the given period, according to provisional data of the ministry of steel on Wednesday, December 27.
The data showed that imports from China during the April-November period were up 48 percent over the corresponding period of the previous fiscal year.
South Korea was the second-highest exporter of steel to India at 1.2 million mt during the April-November period.
Indian crude steel output during the period has been estimated at 94.1 million mt, up 14 percent, while consumption of finished steel has been estimated at 87.1 million mt, up 14.9 percent, year on year.