India’s mounting steel imports were amongst the major challenges faced by the steel industry last year. And, not without reasons. The country ended the year 2024 as a net steel importer with volumes touching 9.22 million tonnes (mnt) against exports of 7.60 mnt. Finished flats comprised the lion’s share of 94% of steel imports, growing 27% y-o-y to 8.65 mnt (6.80 mnt in 2023). Imports comprise 8-12% of India’s total production but these can damage the domestic industry and thus need to be addressed.
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