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According to data released by India's Ministry of Steel on April 14, India's crude steel production for the 2026 fiscal year (April 2025–March 2026) stood at 168.4 million tonnes, a year-on-year increase of 10.7%; finished steel production reached 160.9 million tonnes, up 9.7% year-on-year; and steel consumption totaled 163.7 million tonnes, JIS G 3313 SEFC540Y steel strip, rising 7.6% year-on-year. All key indicators showed a growth trend.
In terms of trade, finished steel exports amounted to 6.6 million tonnes (up 35.9% year-on-year), while imports totaled 6.52 million tonnes (down 31.7% year-on-year). JIS G 3313 SEFC540Y steel strip, While India recorded net steel imports of approximately 4.7 million tonnes in the 2025 fiscal year, it shifted to become a net exporter in the 2026 fiscal year, with exports slightly exceeding imports.
By country of origin, South Korea accounted for 35.4% of total imports (up 6.0 percentage points year-on-year), China for 23.5% (up 3.0 percentage points), and Japan for 20.2% (up 0.9 percentage points). Together, these top three source countries accounted for approximately 80% of total imports.
In terms of product categories, imports of hot-rolled coils and strips totaled 2.31 million tonnes, down 41.6% year-on-year; cold-rolled coils and strips stood at 1.17 million tonnes, down 24.9%; galvanized sheets amounted to 1.01 million tonnes, down 25.5%; medium and heavy plates totaled 0.67 million tonnes, down 43.3%; and electrical steel stood at 0.49 million tonnes, remaining largely flat year-on-year. JIS G 3313 SEFC540Y steel strip, Overall, with the exception of electrical steel, imports of flat steel products generally showed a significant downward trend.
Meanwhile, the price of 2.5mm hot-rolled coils (HRC) in the Mumbai market at the end of March was 66,940 Indian rupees per tonne (approximately US$717 per tonne), representing a 9.9% increase compared to the same period last year (when the price was 60,920 Indian rupees per tonne).
Overall, driven by the continued expansion of domestic demand in India, both steel production and consumption have grown in tandem, shifting the trade pattern from net imports to net exports. This shift, combined with a sharp contraction in imports and rising prices, indicates tightening domestic supply-demand fundamentals and a high level of industry prosperity.
