India’s steel exports during the fiscal year 2022-23 have been provisionally recorded at 6.7 million mt, a decline of 50.2 percent year on year and the lowest since 2018-19, data of the Joint Plant Committee (JPC) under the ministry of steel and the sole official compiler of industry data showed on Thursday, April 6.
At the same time, India’s steel imports of 6 million mt in 2022-23 were five times higher than in the previous fiscal year, touching a five-year high, the data showed.
According to the provisional data, total Indian crude steel production in 2022-23 was estimated at 125.32 million mt, up 4.2 percent, while consumption of finished steel in India was estimated at 119.17 million mt, up 12.7 percent, year on year.