Economy & Market

India’s April-October Finished Steel Imports Reach 7-Year High

India is the world’s second-largest crude steel producer, had become a net importer in 2023/24.

Published

5 months ago

November 15, 2024

admin

India’s finished steel imports during April-October reached a seven-year high of 5.7 million metric tons, according to provisional government data reviewed by Reuters on Wednesday.

India, the world’s second-largest crude steel producer, had become a net importer in 2023/24, and this trend continued during the April-October period, the data indicated.

From April to September, China had been the leading exporter of finished steel to India, and this was widely expected to remain the case during the April-October period. Further details would be revealed later in the month.

A senior government official had informed Reuters last month that India’s steel ministry was in favor of implementing a safeguard duty or a temporary tax to curb the rising imports of steel.

India’s steel demand remained strong, primarily driven by infrastructure and the automotive sector, although it had slowed down in the United States and Europe.

The consumption of finished steel in India reached a seven-year high of 85.7 million metric tons during April-October, according to the data. Meanwhile, India’s finished steel exports during this period slumped to their lowest in seven years, totaling 2.8 million metric tons. The country’s finished steel production amounted to 82.7 million metric tons, marking a 4.4% increase compared to the previous year. Crude steel production stood at 84.9 million metric tons, reflecting a 3% year-on-year rise.

Up Next

We are committed to a sustainable low-carbon future

Don't Miss

NMDC Steel Q2 loss expands to Rs 5.95 bn, income at Rs 15.35 bn

Concrete

UltraTech Cement boosts capacity with new clinker line

Published

14 hours ago

April 21, 2025

admin

UltraTech Cement has commissioned a 3.35 million tonnes per annum (Mt/yr) brownfield clinker line and one of two 2.7Mt/yr cement grinding mills at its Maihar facility in Madhya Pradesh. The second mill is expected to be operational in Q1 of FY2026. The company has also expanded its Dhule (1.2Mt/yr) and Durgapur (0.6Mt/yr) grinding units and inaugurated its first bulk terminal in Lucknow with a 1.8Mt/yr handling capacity.

Concrete

Ambuja Cements gets a new CEO

Published

14 hours ago

April 21, 2025

Roshna

Ambuja Cements has named Vinod Bahety as its CEO for a three-year term, following Ajay Kapur’s elevation to Managing Director. Bahety, formerly the company’s CFO, brings over 25 years of experience in finance and manufacturing, including a previous role as Group Head of M&A at Adani Group. Other key appointments include Rakesh Tiwary as CFO, Madhavi Isanaka as Chief Digital Officer, Vaibhav Dixit as Manufacturing Head, and Ashwin Raikundaliya as Chief Sustainability Officer.

Image source:www.exchange4media.com

Concrete

Dalmia Bharat reaches 49.5 MTPA with Rohtas expansion

Published

15 hours ago

April 21, 2025

admin

Dalmia Bharat has successfully achieved its FY25 production capacity target of 49.5 million tonnes per annum (MTPA). This milestone was reached following the commencement of commercial production at its Rohtas Cement Works (RCW) in Bihar, where an additional 0.5 MTPA capacity has been added from March 30, 2025.
The expansion, which involved an investment of `96 crore, boosts the Rohtas plant’s total capacity to 1.6 MTPA. This development underscores the company’s continued focus on strengthening its presence in eastern India and aligns with its long-term goal of scaling total capacity to between 110 and 130 MTPA by the year 2031.
Puneet Dalmia, Managing Director and CEO, Dalmia Bharat, shared, “The Eastern region holds immense promise, and this expansion is a reflection of our commitment to contribute meaningfully to its infrastructure growth. Reaching the 49.5 MTPA mark is a key step in our journey towards sustainable and strategic expansion.”