India’s finished steel exports jumped 33.3% year-on-year to 4.8 million metric tonnes during April–December, according to provisional government data, keeping the country a net exporter of steel in the period.
Finished steel imports stood slightly lower at 4.65 million metric tonnes, with detailed country-wise export data expected later this month. To counter the surge of cheaper imports, primarily from China, the government imposed safeguard duties in December. The levy has been fixed at 12% in the first year, tapering to 11.5% in the second year and 11% in the third year.
On the production front, India produced 117.6 million metric tonnes of finished steel during the nine months, while consumption reached 119.3 million metric tonnes. Crude steel output stood at 123.9 million metric tonnes.
