India’s finished steel imports hit an eight-year high of 6.5 million mt during the first eight months (April-November) of the current fiscal year 2024-25, after recording a rise of 26.6 percent over the corresponding period of the previous fiscal year, data sourced from the ministry of steel showed on Friday, December 20.
Significantly, the data showed that steel imports from China during the April-November period of 2024-25 touched an all-time high at 1.96 million, rising by 22.8 percent year on year.
Finished steel imports from Japan also reached at least a six-year high during the April-November period, with imports more than doubling to 1.4 million mt, according to the data.
China, Japan and South Korea accounted for 79 percent of India's total finished steel imports during the period.