India’s finished steel imports from China hit a five-year high in April, according to provisional government data. China exported mostly cold-rolled sheets, which are used in the automobile, white goods, and consumer durable sectors. Overall, India imported 0.5 million tonnes of finished steel, its highest since 2019, up 38.2% YoY. South Korea was the top exporter of finished steel, shipping out 0.2 million tonnes and accounting for 32% of India’s overall imports. However, India, the second-largest crude steel producer worldwide, was a net exporter of finished steel in April, with 0.9 million tonnes sold to top buyers. India’s steel consumption is expected to rise by 7.5% during the current fiscal year.
India imports highest amount of finished steel from China in five years
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