As demand grows, India's steel imports from April to December reached a five-year high.
The Economic Times
India
31-01-2024
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In the first nine months of the fiscal year to the end of March, India's imports of steel reached a five-year high, making the nation a net importer of completed steel, according to preliminary government statistics obtained by Reuters on Tuesday.
India has been a bright spot for steel producers, both domestically and internationally, thanks to a surge in economic activity and an overhaul of the country's infrastructure. The demand for steel is declining in Europe and the US, in contrast to India.
According to the data, India imported 5.6 million metric tonnes of completed steel between April and December, a 26.4% increase from the same period last year.