India Turns Net Exporter of Finished Steel in April–December, Exports Rise 33%

India has emerged as a net exporter of finished steel during the first nine months of the current financial year, marking a significant shift in the country’s steel trade balance. Provisional government data shows that finished steel exports rose sharply to about 4.8 million tonnes during the April to December period, registering a year on year growth of over 33 percent.

During the same period, finished steel imports stood at around 4.65 million tonnes, enabling India to retain its position as a net exporter despite continued global volatility in steel markets. The development is notable as India remains the world’s second largest producer of crude steel, with domestic demand staying firm alongside rising overseas shipments.

Government data also indicated that India produced nearly 117.6 million tonnes of finished steel between April and December, while apparent consumption during the period was slightly higher at around 119.3 million tonnes. Crude steel production stood at approximately 123.9 million tonnes, reflecting steady capacity utilisation across major steel-producing regions.

The improvement in trade balance comes at a time when the government has stepped up measures to protect domestic producers from a surge in low priced imports. In December, safeguard duties were imposed on select steel products to curb cheaper inflows, mainly from China. The duty has been set at 12 percent initially, with a gradual tapering planned over the next two years.

Industry participants believe these measures, combined with stable domestic demand from infrastructure, construction and manufacturing sectors, have helped support local producers. In January, leading steelmakers raised prices of hot rolled and cold rolled coils by up to Rs 2,000 per tonne, reflecting improved sentiment and better pricing power.

Despite the recent gains, experts caution that global steel markets remain sensitive to geopolitical developments, trade policies and demand conditions in major economies. Any prolonged weakness in international prices could once again make imports attractive, putting pressure on domestic realisations.

Looking ahead, India’s steel sector is expected to benefit from continued public infrastructure spending and manufacturing-led growth. While imports remain a key variable to watch, the latest data suggests that policy support and export momentum have helped the industry navigate a challenging global environment and strengthen its trade position in the current financial year.