India's finished steel exports hit a record high in April

According to statistics released by the Joint Plant Committee (JPC), India's finished steel exports totalled 855,000 in April this year, up 13% from the same month a year earlier, reaching a new high since March 2022. The increase was driven by strong demand from Europe.

In terms of imports, India's finished steel import volume increased by 38% y-o-y to 460,000 tonnes in April. Steel imports are expected to increase in the coming months due to low international prices.

In this period, India's crude steel production increased by 1.2% y-o-y to 10.5 million tonnes, while pig iron production decreased by 8.4% y-o-y to 505,000 tonnes.