India’s steel imports, which have been in the news lately, because of their ensuing impact on domestic steel sales, not only hit a seven-year high in 2023 (CY’23) but increased by over 45% y-o-y. BigMint’s data shows that steel imports touched 7.18 million tonnes (mnt) in CY’23 against 4.94 mnt in CY’22. Korea, China and Vietnam were countries that led the imports list last year.
