The consumption of finished steel in India reached a seven-year peak of 85.7 million metric tons from April to October, the data showed. During the same period, India's finished steel exports fell to their lowest level in seven years, totaling 2.8 million metric tons.

India's finished steel imports from April to October reached a seven-year peak of 5.7 million metric tons, based on provisional government data analyzed. India, the second-largest crude steel producer globally, became a net importer in 2023/24, a trend that persisted through April-October, according to the data. From April to September, China emerged as the primary exporter of finished steel to India, and this is anticipated to continue through April-October. Information will be revealed later this month.

India's steel ministry supports implementing a safeguard duty or a temporary tax to limit increasing steel imports, a senior government official informed Reuters last month. Steel demand in India continues to be robust, fueled by infrastructure and automotive sectors, although it has declined in the United States and Europe.

The data indicated that the nation's finished steel output reached 82.7 million metric tons, an increase of 4.4% compared to the previous year. The data indicated that crude steel production reached 84.9 million metric tons, representing a 3% increase compared to the previous year.