India is emerge as net importer of steel in Q1FY’25

India is set to become a net importer of steel in the first quarter of financial year 2024-25 (Q1FY’25), reveals data maintained with BigMint. Figures indicate that for three consecutive months – April to June, 2024 — India’s steel imports were higher compared to its steel exports. For instance, in April, imports increased to 0.75 million tonnes (mnt) against 0.56 mnt of exports. May saw imports hovering at around 0.60 mnt compared to a lower 0.56 mnt of exports. June is set to end with an alarming increase in imports to 0.60 mnt when pitted against 0.40 mnt of exports. Cumulatively, thus, in Q1FY’25 (considering provisional numbers for June), imports, are slated to rise to 1.95 mnt compared to 1.51 mnt of exports.