India's Steel Industry Battles Cheap Chinese Imports

Via Metal Miner With a new government in place following the recent general elections, Indian steel manufacturing firms are again clamoring for the imposition of more import duties and other measures to curb cheap steel imports from China. India ended up being a net importer of steel during the April-March 2024 period. According to provisional government data, this trend persisted, with finished steel imports reaching a five-year high in April and May.

Get crucial updates on steel prices and steel industry news delivered straight to your inbox with MetalMiner’s weekly newsletter. Chinese Exports Continue to Increase In 2022, China exported 65-68 MT of steel. However, it exported approximately 85 MT in 2023 despite depressed domestic demand. A report by the Indian steel ministry said the value of Chinese steel exports to India in April 2024 was U.S. $434.01 million as compared to $391.67 million in March.

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