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.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Steel Industry Reacts to Import Caps and Tariffs with Cautious ApproachThe European steel industry faces uncertainty as import caps, tariffs, and economic factors impact prices and demand.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Thousands of Chinese tech workers fail to get Indian visas, industry saysModi’s ambitions to create a manufacturing power come up against souring diplomatic relations with Beijing
Source: FT - 🏆 113. / 51 Read more »

German Industry Vulnerable to Chinese RetaliationChina agrees to discuss electric vehicle tariffs with the EU, but a snub from a Chinese premier casts a shadow over the negotiations.
Source: OilandEnergy - 🏆 34. / 68 Read more »

India’s electronics industry is surgingForeign and domestic firms are investing in local manufacturing
Source: TheEconomist - 🏆 6. / 92 Read more »