By Neha Arora
NEW DELHI (Reuters) -India was a net importer of finished steel in September, with shipments of 0.65 million metric tons, according to provisional government figures seen by Reuters on Wednesday.
Finished steel imports were down 36.3% on the year, the data showed.
India, the world’s second-biggest producer of crude steel, has recommended a three-year import tariff of 11% to 12% on some steel products aimed at curbing shipments, mainly from top producer China.
India exported 0.58 million metric tons of finished steel in September, up 47.6% on the year, according to the data.
India’s finished steel production of 13.3 million metric tons in September was up 14.7% on the year, it showed.
Finished steel consumption of 13.5 million metric tons in September was up 9% on the year, the figures showed, while consumption dipped marginally from a month ago by 2.2%.
India’s crude steel output in September reached 13.8 million metric tons, up 15% on the year, according to the data, as production declined slightly by about 1.7% on the month.
(Reporting by Neha Arora; Editing by Clarence Fernandez)
