India remained a net importer of finished steel in volume terms during April-August 2026, with imports rising 29.5 per cent year-on-year to 3.49 million tonnes, according to data released by the Ministry of Steel.
The value of finished steel imports increased 38.3 per cent to ₹36,193.9 crore during the five-month period, compared with ₹26,172.6 crore in April-August 2025. Exports also recorded strong growth, rising 34.1 per cent to 2.99 million tonnes from 2.23 million tonnes a year earlier.
In value terms, steel exports increased 32 per cent to ₹23,646.6 crore during April-August 2026, compared with ₹17,911.1 crore in the corresponding period last year. Despite the increase in exports, import volumes remained higher than export volumes, keeping India a net importer in quantity terms.
China was the largest source of finished steel imports during the period, accounting for 31.8 per cent of total imports at 1.11 million tonnes. South Korea followed with 1.04 million tonnes, representing a 29.8 per cent share, while Japan accounted for 14.2 per cent with 496,600 tonnes.
Indonesia and Vietnam were the other major sources, with imports of 226,100 tonnes and 157,500 tonnes, respectively.
On the export side, Vietnam was the largest destination for Indian finished steel, receiving 416,000 tonnes or 13.9 per cent of total exports. The UAE followed with 389,200 tonnes, while Italy, Belgium and Nepal accounted for 289,000 tonnes, 248,700 tonnes and 194,700 tonnes, respectively.
Hot-rolled coil and strip constituted the largest category of finished steel imports at 1.28 million tonnes, accounting for 36.6 per cent of total imports. Cold-rolled coil and sheets followed at 624,100 tonnes, while galvanised and galvannealed sheets and coils accounted for 555,500 tonnes.
Plates accounted for 290,100 tonnes of imports, while bars and rods contributed another 253,500 tonnes.
On the production front, India produced 71 million tonnes of crude steel during April-August 2026, up 2.8 per cent from 69 million tonnes in the same period last year. Finished steel production increased 4.1 per cent to 68.3 million tonnes.
Domestic finished steel consumption also remained firm, increasing 7.4 per cent year-on-year to 70.5 million tonnes during the April-August period, compared with 65.7 million tonnes a year earlier.
The latest trade data comes as domestic steel demand continues to expand, while imports are also rising at a faster pace. The Ministry of Steel data shows that India’s finished steel imports increased more sharply than exports in volume terms during the first five months of FY27, leaving the country with a net-importer position for the period.
