India's finished steel imports from China hit 7-year high in April-August

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India's finished steel imports from China hit 7-year high in April-August - Business Standard

Quick Summary:

Domestic steel prices fell in August, India's steel ministry noted in its report."Indian domestic rebar prices fell during the month under review reflecting the ongoing challenges in the market which included supply-demand mismatch and falling offers," it said.

China was the largest exporter of finished steel to India during this period, followed by South Korea and Japan, primarily shipping stainless steel, hot-rolled coil steel, galvanised sheets, and plates.

Italy, the top export destination for India's finished steel exports, imported around 360,000 tons, down 48.3 per cent year-on-year.