India became net importer of finished steel as demand soared
Business
Between April and August 2026, India became a net importer of finished steel as demand soared.
Imports jumped nearly 30% from April-August 2025 to 3.5 million metric tons, with China leading the pack.
Other top sources included South Korea, Japan, Indonesia, and Vietnam.
India exports 2.99 Mt up 34.1%
It's not just imports: India's finished steel exports also climbed by 34.1%, hitting 2.99 million metric tons.
Vietnam was the biggest buyer, followed by the United Arab Emirates, Italy, Belgium and Nepal.
On top of that, crude steel production rose slightly to reach 71 million metric tons.
The most traded items? Hot-rolled coils and strips.