Finished steel imports outpace exports in H1 FY27

India remained a net importer of finished steel in the first half of the 2026-27 fiscal year, as imports grew faster than domestic production, according to government data.

Finished steel imports rose by 23.8pct YoY to 4.14 mln tons in April-September, exceeding exports of 3.55 mln tons. China and South Korea accounted for nearly 63pct of imports, while the UAE and Vietnam were India's largest export destinations.

Finished steel consumption increased by 7.7pct YoY to 14.4 mln tons in September.

Domestic steel prices also strengthened. In October, HRC prices rose by 31.6pct YoY, while CRC prices increased by 33.3pct.