India’s steel imports and exports surge – 2024
Steel exports surged in February, but India remains a net importer, according to a report by the Steel Ministry accessed by BusinessSteelLine.
In February, India’s steel exports increased by approximately 21% compared to January, reaching 1 million tonnes (mt), while imports remained steady at 0.76 mt. This marks the second consecutive month where India has been a net exporter.
On a year-on-year basis, outbound shipments soared by 78% in February, with finished steel shipments for the month witnessing a 29% increase.
In January 2024, exports totaled 0.8 mt, while imports stood at 0.77 mt for the month.
A Steel Ministry official noted that the import situation is gradually improving and is being closely monitored. These fluctuations are viewed as a short-term phenomenon.
