India: Finished steel imports fall 36% m-o-m in Feb’25 – JPC

• Finished steel exports rise 4% m-o-m in Feb’25
• Crude, finished steel production decline m-o-m

India’s finished steel imports fell by 36% in February 2025 to 0.607 million tonnes (mnt) compared to 0.944 mnt in January 2025, as per data from the Joint Plant Committee (JPC). This marks a 29% decline from 0.854 mnt recorded in February 2024.

In April 2024-February 2025, finished steel imports rose by 16% to around 9 mnt compared to 8 mnt in the same period last year.

Finished steel exports up 4% m-o-m

India’s finished steel exports increased by 3.8% to 0.410 mnt in February 2025 from 0.395 mnt in the previous month. Additionally, this marks a fall of 60% from 1.026 mnt in February 2024, according to provisional data from the JPC.

The cumulative export volume for April 2024-February 2025 declined by 34% to 4.404 mnt, compared to 6.645 mnt during the same period last year.

Crude steel production falls 9% m-o-m

Crude steel production in February 2025 fell by 8.6% to 12.472 mnt from 13.642 mnt in the previous month. This was almost 5% higher than 11.914 mnt in February 2024.

For the April 2024-February 2025 period, cumulative crude steel output increased by 5% to 137.958 mnt, compared to 131.407 mnt in the same period in the previous year.

Finished steel production drops 7% m-o-m

India’s finished steel production fell by 6.8% in February 2025 to 12.138 mnt compared to 13.016 mnt in January 2025, while on a y-o-y basis it increased by 5% from 11.595 mnt in February 2024.

Over April 2024-February 2025, cumulative finished steel production grew 5% to 132.572 mnt from 126.567 mnt during the same period of the previous year.

Finished steel consumption declines 7% m-o-m

In February 2025, finished steel consumption in India declined by 6.5% m-o-m to 12.427 mnt from 13.289 mnt in January 2025. Additionally, consumption increased by over 11% from 11.173 mnt in February 2024.

Finished steel consumption in April 2024-February 2025 climbed up by over 11% to 137.848 mnt from 123.805 mnt recorded during the same period of the previous year.