India's finished steel imports increased year-on-year in the April-July 2023 period. India's finished steel imports from China reached a five-year high in the first four months of the fiscal year that started in April. Cold rolled coils and sheets were among the main imported products.
From April 2023 to July 2023, South Korea was the top exporter to India with 0.7 million mt, accounting for 35% of total steel imports. India's second largest steel exporter was China, up 0.6 million mt, up 62% year on year.
During the same period, India imported 2 million mt of finished steel, a record high since 2020, up 23 percent year on year.