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Tel : 0086-0371-86172891
The latest data released by the Joint A573 Grade 65 Factory Committee of India shows that due to increased domestic consumption, India's crude steel production in August increased by 2.6% compared to the same period last year, reaching 12.29 million tons; The production of finished steel increased by 3.5% year-on-year, reaching 11.87 million tons; The consumption reached 12.53 million tons, a year-on-year increase of 10%.
In terms of trade, India A573 Grade 65 maintained net imports of finished steel for the fifth consecutive month in August, with imports exceeding exports by about 413000 tons. Relevant data shows that exports decreased by 33% year-on-year in August, while imports increased by 3.8% year-on-year. According to us, in the first five months of fiscal year 2025 (April 2024 to March 2025), the inflow of steel in India exceeded the outflow by 1.53 million tons.
At present, India's net importer status is influenced by various factors, such as the sluggish global steel market and the competitiveness of steel produced in China and Japan. In the situation where China has an advantage in importing steel resources, Indian Steel Minister H D Kumaraswamy stated on September 4th that he will cooperate with relevant departments to increase China's import tariffs from 7.5% to 10% -12% to protect the domestic steel A573 Grade 65 steel industry.
