India's April-October finished steel imports at seven-year high
India, the world's second-biggest crude steel producer, had turned a net importer during 2023/24 and the trend has continued during April-October, the data showed.
During April-September, China was the lead exporter of finished steel to India and this is widely expected to be the case during April-October. Details will be known later in the month.
India's steel ministry favours a safeguard duty or a temporary tax to curb rising steel imports, a senior government official had told Reuters last month.
India's steel demand remains strong, driven by infrastructure and automotives, but it has tapered in the United States and Europe.
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