India becomes net exporter of finished steel in October as shipments rise

India turned a net exporter of finished steel in October, with shipments reaching 0.6 million metric tons, up 44.7 per cent from a year earlier, provisional government data reviewed by Reuters showed on Monday.

India, the world's second-biggest crude steel producer, imported 0.5 million metric tons in October, down 55.6 per cent from a year earlier, the data showed.

New Delhi produced 13.4 million metric tons of finished steel in October, up 10 per cent from a year earlier, while consumption was 13.6 million metric tons, up 4.7 per cent.

India's crude steel production in October stood at 14.02 million metric tons, up 9.4 per cent from a year earlier, according to the data.