India to Emerge as Net Steel Importer in H1 FY’25

India will continue to be a net steel importer in the first half of financial year 2024-25 (H1FY’25), forecasts BigMint. The trend actually started in the April-June quarter (Q1FY’25) of the current fiscal, and data corroborates that it will continue into Q2FY’25 (July-September, 2024) as well.Data reveals, India’s steel imports (including stainless steel) in H1FY’25 will be at a provisional 5.10 millon tonnes (mnt) whereas exports will hover at 2.80 mnt. In Q2FY’25, imports may provisionally reach 2.90 mnt against estimated exports of 1.1 mnt. In Q1FY’25, imports had been higher at 2.22 mnt against a far lower 1.70 mnt of exports. In Q4FY’24, however, India had remained a net exporter with 3.2 mnt compared to 2.30 mnt of imports.