China India's Major Steel Exporter, 55% Increased Export

As per Indian government data, China was the top exporter of finished steel to India in the first six months of the fiscal year that began in April. China shipped 0.9 million metric tons from April to September, up 55% from the previous year. China, the world's largest steel producer, primarily exported cold-rolled coil or sheets to India, followed by hot-rolled coil products, plates, and pipes, among other things.

The Indian steel industry has asked the government for protection against Chinese imports. From April to September, India imported 2.9 million tons of finished steel, a 13.4% increase over the previous year.

South Korea was the second-biggest exporter to India, shipping 0.9 million tons. However, India remained a net exporter of finished steel during April-September, with 3.2 million tons sold to buyers such as Italy, Spain, Belgium, Nepal and the UAE, the Indian government data showed.

According to the data, the most exported products were hot-rolled coil and strips. India's crude steel output was 70 million tons, a 14.7% increase over the same period last year. India is the world's second-largest producer of crude steel.

Domestic consumption of finished steel increased 14.9% year on year to 64.1 million tons. In its report, the government stated that the domestic economic environment remained positive. JSW Steel Ltd's chief executive said this week that the company would continue to focus on domestic sales due to strong demand.