India: Finished steel imports edge up by 3.1% m-o-m in Jan’25 – JPC

• Finished steel exports fall by 11.4% m-o-m in Dec’24
• Crude and finished steel production decline

According to the Joint Plant Committee (JPC), India’s finished steel imports continued to grow marginally by 3.1% in January 2025 to 0.868 million tonnes (mnt) compared to 0.842 mnt in December 2024. This marks a 2.5% growth from 0.847 mnt recorded in January 2024.

In April 2024-January 2025, finished steel imports rose by 20.3% to 8.292 mnt compared to 6.895 mnt in the same period last year.

Finished steel exports down 11.4% m-o-m

India’s finished steel exports declined by 11.4% to 0.395 mnt in January 2025 from 0.446 mnt in the previous month. Additionally, this marks a fall of 53.3% from 0.846 mnt in January 2024, according to provisional data from the JPC.

The cumulative export volume for April 2024-January 2025 declined by 28.9% to 3.994 mnt, compared to 5.619 mnt during the same period last year.

Crude steel production falls by 5% m-o-m

Crude steel production in January 2025 fell by 5% to 12.91 mnt from 13.582 mnt in the previous month. This was 1.1% higher than 12.771 mnt in January 2024.

For the April 2024-January 2025 period, cumulative crude steel output increased by 4.5% to 124.919 mnt, compared to 119.493 mnt in the same period the previous year.

Finished steel production drops 2.5% m-o-m

India’s finished steel production falls by 2.5% in January 2025 to 12.258 mnt compared to 12.574 mnt in December 2024. While on y-o-y basis it remained stable.

For April 2024-January 2025, cumulative finished steel production grew 3.9% to 119.451 mnt from 114.972 mnt during the same period of the previous year.

Finished steel consumption declines marginally

In January 2025, finished steel consumption in India declined marginally by 0.8% m-o-m to 13.289 mnt from 13.392 mnt in December 2024. Additionally, consumption increased by 5.8% from 12.558 mnt in January 2024.

Finished steel consumption in April 2024- January 2025 climbed up by 10.8% to 124.781 mnt from 112.631 mnt recorded during the same period of the previous year.