India was a net importer of steel from April to November as shipments from China hit a five-year high.

According to preliminary government data seen by Reuters on Wednesday, India became a net importer of finished steel in the first eight months of the fiscal year that started in April, with shipments from China hitting their highest level in five years. Between April and November, China shipped 1.3 million metric tonnes of finished steel to India, making it the top exporter of the alloy—a 48.2% increase over the same period last year. India received the majority of the world's top steel producer's exports of coils and sheets, both hot and cold, then plates and pipes. The Indian steel sector has requested government intervention in order to protect itself from imports from China. According to data, India imported 4.3 million tonnes of finished steel between April and November, up 13.4% from the same period last year and a four-year high. With 1.3 million metric tonnes shipped, South Korea was the second-largest supplier of finished steel to India during that time. India is currently the second-largest producer of crude steel in the world, with 94.1 million tonnes produced in the last eight months—a 14.7% increase from the previous year. At a five-year high, domestic consumption of finished steel increased to 87.1 million tonnes, a 14.9% increase.