India: Finished steel exports rise, imports fall sharply in Oct’25 – JPC

• Crude steel output increases m-o-m, y-o-y
• Finished steel consumption rises m-o-m

India’s finished steel exports continued to increase in October 2025, while import volumes plunged (both on m-o-m and y-o-y bases), according to provisional data from the Joint Plant Committee (JPC) under the Ministry of Steel. Both steel production and consumption also increased on m-o-m and y-o-y bases, reflecting strong industry growth last month.

Highlights

Crude steel output rises m-o-m, y-o-y

India’s crude steel production rose 3.3% m-o-m to 14.016 million tonnes (mnt) in October 2025, from 13.565 mnt in September 2025. On a y-o-y basis, crude steel output increased 9.4% from 12.807 mnt in October 2024. Cumulatively, April-October 2025 production stood at 96.081 mnt, reflecting an 11.7% rise compared to 86.034 mnt in the same period last year.

Finished steel production inches up m-o-m

Finished steel production in October 2025 registered a mild 1.6% m-o-m increase to 13.442 mnt, compared to 13.227 mnt in September 2025. On a y-o-y basis, production climbed 10.1% from 12.215 mnt in October 2024. Cumulative production for April-October 2025 reached 91.887 mnt, up 10.8% over 82.963 mnt in the corresponding period last year.

Steel exports sustain upward trend m-o-m

India’s finished steel exports increased by 9.6% m-o-m to 0.640 mnt in October 2025 from 0.584 mnt in the previous month. On a y-o-y basis, exports surged 44.8% from 0.442 mnt in October 2024. Cumulative exports during April-October 2025 stood at 3.450 mnt, marking a 25.3% increase against 2.753 mnt a year earlier.

Finished steel imports decline m-o-m, remain lower y-o-y

Finished steel imports dropped 29.6% m-o-m to 0.459 mnt in October 2025 from 0.652 mnt in September 2025. On a y-o-y basis, imports plunged 55.6% from 1.033 mnt in October 2024. During April-October 2025, total imports stood at 3.804 mnt, down 34.1% compared to 5.768 mnt in the same period last year.

Finished steel consumption rises m-o-m, maintains y-o-y growth

India’s finished steel consumption rose 2.4% m-o-m to 13.642 mnt in October 2025 from 13.328 mnt in September 2025. Consumption also increased 4.8% y-o-y from 13.013 mnt in October 2024. Cumulative consumption for April-October 2025 reached 92.502 mnt, reflecting a 7.8% rise over 85.827 mnt recorded in the corresponding period last year.

Outlook

India’s steel market is likely to stay stable in the near term, supported by strong exports, steady production, and firm consumption trends driven by infrastructure activity. However, export momentum may soften amid weaker global prices, while imports are expected to remain limited due to competitive domestic supply and cautious buying sentiment.