- Finished steel output stable m-o-m, consumption sees minor dip
- Exports gain momentum, imports decline y-o-y
India’s finished steel imports fell slightly by 3.0% m-o-m to 0.648 million tonnes (mnt) in September 2025 from 0.668 mnt in August 2025, according to provisional data from the Joint Plant Committee (JPC) under the Ministry of Steel. On a y-o-y basis, imports dropped 36.3% from 1.017 mnt in September 2024. Cumulative imports during April-September 2025 stood at 3.341 mnt, down 29.4% against 4.735 mnt in the same period last year.
Finished steel exports rise m-o-m
India’s finished steel exports grew 10.6% m-o-m to 0.584 mnt in September 2025 from 0.528 mnt in August 2025. On a y-o-y basis, exports surged 47.5% from 0.396 mnt in September 2024. Cumulative exports during April-September 2025 reached 2.810 mnt, up 21.6% from 2.311 mnt in the same period last year.
With the January 2026 implementation deadline for the Carbon Border Adjustment Mechanism (CBAM) fast approaching in Europe, uncertainty regarding future steel pricing and procurement has intensified. As a result, buyers are stocking up on lower-priced steel imports, anticipating that the CBAM will lead to higher costs from additional tax liabilities after its full implementation.
Crude steel output dips m-o-m, rises y-o-y
Crude steel production declined slightly by 1.7% m-o-m to 13.789 mnt in September 2025 from 14.022 mnt in August 2025. On a y-o-y basis, production increased 14.9% from 11.998 mnt in September 2024. Cumulative output during April–September 2025 stood at 82.307 mnt, reflecting a 12.4% increase from 73.227 mnt a year ago.
Finished steel output stable m-o-m
Provisional JPC data shows finished steel production was nearly flat m-o-m at 13.332 mnt in September 2025 compared with 13.444 mnt in August 2025. On a y-o-y basis, output rose 14.7% from 11.627 mnt in September 2024. Cumulative production during April–September 2025 reached 78.560 mnt, marking an 11.1% rise over 70.721 mnt in the same period last year.
Finished steel consumption edges down m-o-m
Consumption of finished steel dipped 2.2% m-o-m, registering 13.476 mnt in September 2025 against 13.773 mnt in August 2025. On a y-o-y basis, consumption grew 9.0% from 12.362 mnt in September 2024. Cumulative consumption during April–September 2025 stood at 78.878 mnt, up 8.4% from 72.797 mnt a year ago, indicating sustained demand traction.
Outlook
India’s steel market is likely to stay stable, supported by strong exports and steady production. Domestic demand remains healthy, while imports adjust ahead of Europe’s CBAM. Balanced supply and improving export competitiveness should sustain growth in the near term
Leave a Reply