India Finished Steel Exports Rise 36.6 Percent to February
Indian steel exports rose 36.6% to 6.02 million tons through February. Imports fell 37.4% while domestic crude production grew 11.2% to 153.61 million tons.
India has reported a significant surge in its finished steel exports, which climbed 36.6% year-on-year to reach 6.02 million metric tons during the first 11 months of the current financial year. According to provisional government data reviewed on Monday, the nation continues to solidify its position as the world's second-largest producer of crude steel.
The growth in exports was accompanied by a robust increase in domestic production. Crude steel output rose by 11.2% year-on-year, totaling 153.61 million metric tons between April and February. This industrial expansion aligns with a 7.2% rise in finished steel consumption, which reached 147.7 million metric tons over the same period.
While exports and production saw upward trends, imports of finished steel experienced a sharp decline. The data indicates that India imported 5.6 million metric tons during the 11-month window, representing a 37.4% decrease compared to the previous year. The government is expected to release more granular, country-wise trade statistics later this month.
