India’s Steel Imports Fall 30%, But Country Stays Net Buyer in H1 FY26

Snapshot

India’s steel imports dropped sharply by 30% year-on-year to 3.3 million tonnes during April–September 2025, as higher duties and weak global prices slowed inflows. Despite this decline, India remained a net importer due to a narrower export recovery.

Exports & Production

• Exports: Rose 21% YoY to 2.8 million tonnes, led by shipments to Europe and Southeast Asia.
  
  

• Production: Domestic crude steel output increased 11% to 78.6 million tonnes, supported by strong operational utilization.
  
  

• Consumption: Up 9% YoY to 78.9 million tonnes, reflecting resilient end-user demand from construction and manufacturing.
  
  

Market Context

 

Import volumes softened following safeguard duties and tighter trade measures on select steel categories. However, price-sensitive downstream sectors continued to prefer imported material for niche grades and specific quality requirements.

Outlook

India’s trade balance is expected to remain marginally import-positive in the near term. Sustained export momentum will depend on European buying activity, regional demand recovery, and domestic cost competitiveness.