India wrapped up FY’25 with a 9% y-o-y increase in steel imports, fuelled by the persistent export deluge from China and free-trade agreement (FTA) countries that are grappling with weak demand and surplus steel supply. India’s steel imports (including stainless steel) totalled 10.63 million tonnes (mnt) in FY’25, up 9% from 9.75 mnt in FY’24, according to provisional data with BigMint. This is the highest volume recorded in nine years.
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