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India remains net steel importer in April-October

Tuesday, 12 November 2024 15:11:37 (GMT+3)   |   Kolkata
       

India continued to remain a net importer of steel during the April-October period of the fiscal year 2024-25, shipping in 5.71 million mt, a rise of 40 percent year on year, while steel exports amounted to 2.75 million mt, the provisional data of India’s steel ministry showed on Tuesday, November 12.

According to the data, steel imports during October were estimated at 0.98 million mt, up 34 percent year on year, but, on the positive side, they were down four percent compared to September.

Indian steel exports in October came to 0.44 million mt, a rise of 11 percent compared to September.

According to the ministry of steel, imports in October showed a decline because of India imposing stricter quality control norms and stringency on imports of steel not compliant with the standards of the Bureau of Indian Standards (BIS).

The steel ministry data showed total domestic steel production in the April-October period at 82.65 million mt, a rise of four percent year on year.


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