India imports exceed exports for 5th straight month in August
For the fifth month straight, India imported more finished steel than it exported in August 2026.
Imports hit 721,000 tons (up 8% from last year), while exports also grew to 694,000 tons. That leaves India with net imports of about 27,000 tons.
One reason is that companies are bringing in cheaper steel, adding value here, and then re-exporting it at lower costs.
Hot-rolled coil imports from China Korea
A large part of these imports are hot-rolled coils (think essential material for making pipes used in oil, gas, and water projects), and they mainly come from China and Korea, while imports from Japan have been relatively limited.
Thanks to a duty-free system for re-exported goods, companies can keep domestic prices steady while supporting manufacturing aimed at global markets.
Consumption up nearly 4% prices steady
Even with higher imports, India's finished steel consumption rose nearly 4% compared to last year, reaching over 14 million tons in August.
So demand is solid, and local prices haven't really taken a hit.