According to Steel Ministry, India's production of crude steel increased by 5% YoY to 92.5 million tonnes in April-December 2022 while finished steel production climbed by 5.7% YoY to 87.9 million tonnes and consumption increased by 11.5% to 85.5 million tonnes. India imported 4.4 million tonnes of finished steel, up by 27.4% YoY while exports decreased by 54.1% YoY to 4.74 million tonnesImports at 653,000 tonnes for the December-month, up 9% MoM & 65% YoY, were substantially higher than exports that stood at 442,000 tonnes. As a result, India turned net importer of steel in October-December 2022 quarter with imports outstripping exports by 706,000 tonnes. Imports in November and October were 600,000 tonnes and 593,000 tonnes while exports during these months were 338,000 tonnes and 360,000 tonnes, respectively. For October-December 2022 quarter, steel imports were pegged at 1.846 million tonnes against 1.140 million tonnes of exports
According to Steel Ministry, India's production of crude steel increased by 5% YoY to 92.5 million tonnes in April-December 2022 while finished steel production climbed by 5.7% YoY to 87.9 million tonnes and consumption increased by 11.5% to 85.5 million tonnes. India imported 4.4 million tonnes of finished steel, up by 27.4% YoY while exports decreased by 54.1% YoY to 4.74 million tonnesImports at 653,000 tonnes for the December-month, up 9% MoM & 65% YoY, were substantially higher than exports that stood at 442,000 tonnes. As a result, India turned net importer of steel in October-December 2022 quarter with imports outstripping exports by 706,000 tonnes. Imports in November and October were 600,000 tonnes and 593,000 tonnes while exports during these months were 338,000 tonnes and 360,000 tonnes, respectively. For October-December 2022 quarter, steel imports were pegged at 1.846 million tonnes against 1.140 million tonnes of exports
