- Crude, finished steel output climb up y-o-y
- Consumption flat m-o-m, increases y-o-y
India’s finished steel imports fell by 7.8% m-o-m to 0.428 million tonnes (mnt) in June 2025 from 0.464 mnt in May, according to the Joint Plant Committee (JPC). On a y-o-y basis, imports were down by 32.7% from 0.636 mnt in June 2024.
Cumulatively, imports in April-June stood at 1.412 mnt, a 27.4% decline from 1.944 mnt in the corresponding period last year. Steel imports dropped because buyers were hesitant, finding domestic prices more competitive as against imports following the 12% safeguard duty. The availability of domestic alternatives further reduced demand for imported steel.
Finished steel exports rise m-o-m
India’s finished steel exports rose by 14.1% m-o-m to 0.446 mnt in June 2025 from 0.391 mnt in May. The figure also reflects a 30.0% increase y-o-y from 0.343 mnt in June 2024.
However, cumulative exports in April-June 2025 stood at 1.213 mnt, still 5.1% lower than 1.278 mnt during the same period last year.
Indian mills reduced their HRC export offers to the European Union in recent deals. This, combined with sufficient quota availability, is expected to have boosted India’s HRC export volumes y-o-y. However, competitive offers from other suppliers in the Middle East deterred Indian mills from exporting to that region.
Crude steel output shows growth y-o-y
As per JPC, crude steel production in June stood at 13.422 mnt, down 0.9% m-o-m from 13.542 mnt in May. However, output rose 12.2% y-o-y from 11.964 mnt in June 2024.
Cumulative production during April-June 2025 was at 40.309 mnt, reflecting a 10.4% growth over 36.514 mnt in the same period last year. This indicates a stable and growing production base, suggesting continued supply availability in the coming months.
Finished steel production records m-o-m, y-o-y gains
According to provisional figures from JPC, finished steel production reached 13.111 mnt in June, up 2.3% from 12.819 mnt in May and 12.5% higher than 11.656 mnt in June 2024.
For the April-June quarter, production totalled 38.568 mnt, marking an 8.6% increase from 35.509 mnt in the previous year. The consistent monthly and annual growth points towards a positive production trend, which could support both domestic demand and exports.
Finished steel consumption flat m-o-m, up y-o-y
Consumption of finished steel was largely unchanged in June at 13.163 mnt, compared to 13.147 mnt in May (0.1% m-o-m growth). However, it registered a 9.1% increase y-o-y from 12.069 mnt in June 2024.
Cumulative consumption in April-June reached 38.345 mnt, up 7.9% from 35.543 mnt last year. While the monthly figure indicates stable demand, the sustained annual growth could support further production continuity and possibly higher dispatches ahead.
Outlook
India’s steel sector reflects a steady and structured growth pattern. Overall production levels remain firm, supported by consistent output across key segments. Export activity has shown renewed momentum, indicating improving market alignment and competitiveness.
The reduction in import volumes suggests a shift toward greater domestic fulfilment. If the current pace continues, the market is likely to remain well-balanced, with further potential for export recovery and continued production stability in the near term.
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