India remained a net importer of steel during the first nine months of FY25 (April-December), with imports nearly doubling exports. According to an internal report from the Steel Ministry, steel imports surged by over 20pct YoY to 7.3 mln tons, while exports fell by 25pct to 3.6 mln tons, marking one of the lowest export volumes in recent years.
In comparison, for the same period in FY24, imports were at 6 mln tons and exports stood at 4.8 mln tons.
The report highlights that non-alloy steel imports rose 23pct to 5.4 mln tons, up from 4.4 mln tons in the previous year. Alloyed steel, including stainless steel, saw a 15pct increase in imports, reaching nearly 2 mln tons, compared to 1.7 mln tons last year.
On the export side, non-alloy steel shipments fell by 27pct YoY to 3.1 mln tons, while alloy and stainless steel exports saw a smaller decline of 3pct, dropping to 0.5 mln tons from 0.6 mln tons.
Finished steel consumption during the 9-month period reached 111.25 mln tons, reflecting an 11.17pct increase from the previous year’s 100 mln tons. Finished steel production, meanwhile, rose by 4pct YoY to approximately 107 mln tons.
