India remained a net importer of steel in the first nine months of FY25 (April-December), as imports continued to outpace exports, according to a Union Steel Ministry report.
Total steel imports during the period stood at 7.5 mln tons, significantly exceeding exports of 3.6 mln tons.
HRC was the most imported product, totaling 3.2 mln tons, or 46 percent of finished steel imports.
China remained the largest supplier, with exports to India rising 13 percent YoY to 2.2 mln tons. Japan saw the sharpest increase, surging 94 percent YoY to 1.6 mln tons, while South Korea’s exports grew 7 percent YoY to 2.1 mln tons.
Shipments from Vietnam remained steady at 0.7 mln tons, following an anti-dumping probe into suspected Chinese rerouting through free trade agreements (FTAs). Meanwhile, imports from Indonesia saw a sharp 80 percent YoY increase to 0.2 mln tons.
On the export front, India’s shipments to key European markets declined. Exports to Italy fell 39 percent YoY to 0.6 mln tons, Spain dropped 18 percent YoY to 0.3 mln tons, and Belgium declined 16 percent YoY to 0.4 mln tons. Shipments to the UK rose 20 percent YoY to 0.3 mln tons.
