India Turns Net Importer Of Finished Steel As Imports Edge Past Exports: Govt

New Delhi, Dec 20 (KNN) India has emerged as a net importer of finished steel in recent years, with imports exceeding exports, according to official data presented in Parliament by Minister of State for Steel Bhupathiraju Srinivasa Varma.

Steel Trade Trends (2019–2025)

Data from the Joint Plant Committee (JPC) indicates that India’s finished steel trade balance has fluctuated over the past six financial years. Exports exceeded imports in 2020–21 and 2021–22, but the trend reversed thereafter.

In 2019–20, imports were valued at Rs 44,683 crore against exports of Rs 36,727 crore. Imports fell to Rs 32,154 crore in 2020–21, while exports rose to Rs 47,170 crore. In 2021–22, exports peaked at Rs 99,452 crore compared with imports of Rs 46,298 crore.

From 2022–23 onwards, imports again overtook exports, reaching Rs 64,455 crore against exports of Rs 55,829 crore. 

The gap widened in 2023–24, with imports at Rs 68,193 crore and exports at Rs 59,157 crore. In 2024–25, imports rose sharply to Rs 80,737 crore, while exports declined to Rs 40,585 crore.

The minister confirmed that India is currently a net importer of finished steel. During April–November 2025, imports totalled 4.19 million tonnes, marginally exceeding exports of 4.18 million tonnes.

Production and Price Trends

The ministry noted that steel is a deregulated sector, with prices determined by market forces including demand-supply dynamics, global trends, raw material prices, logistics and energy costs.

Crude steel production increased from 109.1 million tonnes in 2019–20 to 152.2 million tonnes in 2024–25. During April–November 2025, provisional production stood at 109.5 million tonnes.

Average domestic prices of hot-rolled (HR) coils have been volatile. Prices rose from Rs 40,064 per tonne in 2019–20 to a peak of Rs 67,775 per tonne in 2021–22, before moderating to Rs 52,326 per tonne in 2024–25. 

For April–November 2025, the average price was Rs 51,720 per tonne. These prices are exclusive of GST and represent averages across major metro markets.

(KNN Bureau)