India's finished steel imports jump 62.5% amid duty-free re-export policy
India continued to import more finished steel than it exported for the second month in a row, according to new government data.
Imports jumped 62.5% in May 2026, reaching 0.689 million tons, while exports grew too but couldn't keep up, leaving India with a bigger trade gap.
The main reason? A policy allowing duty-free steel imports for re-export, especially to fill big orders from Middle Eastern pipeline projects.
Consumption up 9% private producers dominate
Steel demand at home is still strong, consumption rose 9% year-over-year thanks to booming construction and infrastructure projects.
Private giants like JSW Steel and Tata Steel led the way, making nearly nine out of 10 tons of finished steel last month.
Meanwhile, public sector producers saw output fall by over 7%, partly due to maintenance issues and a fire at RINL's Vishakhapatnam plant on June 8 that slowed things down even more.