India's crude steel production increased

This increase in production is attributed to higher capacity utilization rates and capacity expansions by major Indian steel mills.

Domestic finished steel consumption also showed a notable increase, rising 14.77% to 63.99 mt compared to 55.75 mt in the same period a year ago. However, during this timeframe, India's exports fell by 10.25% to 3.23 mt from 3.60 mt in April-September 2022-23.

Imports, on the other hand, rose 13.33% y-o-y to 2.90 MT from 2.56 MT in the same period a year ago. The combined output of India's six largest steel players, including Tata Steel, JSW Steel, Jindal Steel and Power (JSP), AMNS India, SAIL and RINL, rose to 41.24 MT from 38.3 MT in the same period a year earlier.