Steel ministry seeks probe into cheaper imports from China, Vietnam

India’s Ministry of Steel has asked the trade ministry to investigate cheaper steel imports from China and Vietnam amid rising imports. India turned net steel importer in FY23, with imports reaching a five-year high. The steel ministry is also discussing diversifying coking coal imports from Russia, Canada, and the U.S. to reduce reliance on Australia

India’s diesel and jet fuel exports to Singapore and Australia hit their highest levels in 2-1/2 years in July, fueled by waning European demand and cheaper shipping costs. Industry sources indicate that Australia’s increased imports were also due to planned refinery maintenance and new government mandates for refined product stockpiles.