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According to the report of the Joint A529 Grade 55(380) steel Plant Committee (JPC) under the Indian Ministry of Steel, India's steel imports in the first half of the 2024-25 fiscal year (April to September) were 4.7 million tons, a year-on-year increase of 41%, while steel exports were 2.3 million tons, a year-on-year decrease of 36%.
In the same period of the 2023-24 fiscal year, India A529 Grade 55(380) steel is a net exporter of steel, with an export volume of 3.6 million tons and an import volume of 3.3 million tons.
The report also pointed out that there is significant import pressure from China and South Korea, but the month on month import growth rate remains at a low level. On the other hand, India's steel exports have rebounded, and the rise in Chinese steel prices may have a positive impact.
In September 2024, the import volume of finished steel in India A529 Grade 55(380) steel was about 1 million tons, a year-on-year increase of 78%, unchanged from August; The export volume was 400000 tons, an increase of 16% month on month, but a decrease of 8% year-on-year.
