India: Finished steel imports edge up by 2.2% m-o-m in Dec'24 - JPC

• Finished steel exports rise 11.5% m-o-m in Dec'24
  
  
• Finished steel consumption increases by 8% m-o-m
  
  

According to the Joint Plant Committee (JPC), India's finished steel imports increased marginally by 2.2% in December 2024 to 0.761 million tonnes (mnt) compared to 0.745 mnt in November 2024. This marks a 15.7% decline from 0.903 mnt recorded in December 2023.

In April-December 2024, finished steel imports rose by 20.3% to 7.274 mnt compared to 6.049 mnt in the same period last year.

Finished steel exports grow 11.5% m-o-m

India's finished steel exports increased by 11.5% to 0.446 mnt in December 2024 from 0.400 mnt in the previous month. Additionally, this marks a fall of 30.8% from 0.644 mnt in December 2023, according to provisional data from the JPC.

The cumulative export volume for April-December 2024 declined by 24.6% to 3.600 mnt, compared to 4.773 mnt during the same period last year.

Crude steel production up 2.1% m-o-m

Crude steel production in December 2024 increased by 2.1% to 12.640 mnt from 12.384 mnt in the previous month. This is 1.9% higher than 12.400 mnt in December 2023.

For the April-December 2024 period, cumulative crude steel output increased by 4% to 110.995 mnt, compared to 106.722 mnt in the same period the previous year.

Finished steel production rises 4.4% m-o-m

India's finished steel production rose 4.4% in December 2024 to 12.243 mnt compared to 11.725 mnt in November 2024. This represents a 1.9% growth from 12.018 mnt in December 2023.

For April-December 2024, cumulative finished steel production grew 4.1% to 106.857 mnt from 102.667 mnt during the same period the previous year.

Finished steel consumption increases by 8% m-o-m

In December 2024, finished steel consumption in India rose 8% m-o-m to 13.224 mnt from 12.248 mnt in November 2024. Additionally, consumption increased by 3.3% from 12.801 mnt in December 2023.

Finished steel consumption in April-December 2024 climbed up by 11.2% to 111.252 mnt from 100.074 mnt recorded during the same period the previous year.