NEW DELHI, Jan 13 (Reuters) - India's finished steel imports hit at least a six-year high in the first nine months of the financial year that started in April 2024, according to provisional government data reviewed by Reuters on Monday.

India, the world's second-biggest crude steel producer, had turned a net importer of finished steel products in the previous financial year. The trend has since continued, with shipments from China touching a record high in April-November 2024.

China's steel exports in 2024 hit their highest level since 2015 at 110.72 million tons, an annual increase of 22.7%.

India last month launched a probe to determine the need for imposition of a safeguard duty or a temporary tax to curtail unbridled steel imports.

India imported 7.27 million metric tons of finished steel during April-December, up 20.3% year-on-year, the provisional data showed.

The country remained a net importer of finished steel during April-December, with exports slumping 24.6% to an at least six-year low of 3.6 million metric tons, the data showed.

The government will detail country-wise trade data later this month.

Demand in Asia's third-largest economy has been robust from infrastructure and automotives, while it tapers off overseas.

Consumption of finished steel during April-December reached an at least six-year high of 111.25 million tons, up 11.2% from the previous year, the data showed.

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https://www.reuters.com/markets/commodities/indias-april-december-finished-steel-imports-touch-least-six-year-high-2025-01-13/