India's crude steel production in the first half of 2023 increased by 5 percent year-on-year to 66.1 million tons. This increase in crude steel production supported the demand for iron ore.
During this period, India's iron ore production rose 12.6 percent year on year to 152 million tons. Iron ore exports also increased by 75 percent year on year to 21 million tons.
In the first half of 2023, India's steel exports decreased by 30 percent year-on-year due to less competitive steel prices. India's steel imports, on the other hand, amounted to 2.7 million tons, up 33 percent year on year.