- Steel exports in Apr-Nov rises 33% y-o-y
- Finished steel consumption up 7.4% y-o-y
India’s crude steel production posted steady growth in November 2025 supporting a firm rise in finished steel exports, while import volumes saw a sharp decline on both m-o-m and y-o-y basis, according to provisional data from the Joint Plant Committee (JPC) under the Ministry of Steel. Overall steel output remained strong on monthly and yearly comparisons, and although finished steel consumption dipped m-o-m, it continued to register healthy y-o-y growth.
Highlights
Crude steel production rises
India’s crude steel production increased 2.1% m-o-m to 13.841 million tonnes (mnt) in November from 13.563 mnt in October. On a y-o-y basis, output rose 11.8% from 12.380 mnt in November 2024.
Cumulatively, April–November production stood at 109.491 mnt, up 11.3% from 98.415 mnt in the same period of 2024.
Finished steel production inches up m-o-m
Finished steel production in November edged up 0.6% m-o-m to 13.242 mnt from 13.168 mnt in October. Y-o-y, production increased by 13.5% from 11.672 mnt in November 2024.
Cumulative production in April–November reached 104.834 mnt, up 10.8% compared to 94.608 mnt in the corresponding period of FY’25.
Steel exports sustain upward trend m-o-m
India’s finished steel exports rose 14.5% m-o-m to 0.733 mnt in November from 0.640 mnt in October. Y-o-y, exports surged 83.3% from 0.4 mnt in November 2024.
Cumulative exports during April–November stood at 4.183 mnt, a 32.6% increase against 3.154 mnt in the year-ago period.
Finished steel imports decline m-o-m, remain lower y-o-y
Finished steel imports dropped 15.7% m-o-m to 0.387 mnt in November from 0.459 mnt in October 2025. Y-o-y, imports fell sharply by 52.5% from 0.814 mnt in November 2024.
During April–November, total imports stood at 4.190 mnt, down 36.3% compared to 6.582 mnt in April-November 2024.
Finished steel consumption dips m-o-m, grows y-o-y
India’s finished steel consumption fell 3% m-o-m to 12.968 mnt in November from 13.367 mnt in October. However, consumption increased 7.1% y-o-y from 12.113 mnt in November 2024.
Cumulative consumption in April–November 2025 reached 105.174 mnt, up 7.4% from 97.940 mnt in the corresponding period of last year.
Outlook
India’s steel market is expected to remain supported in the coming months, driven by steady crude steel output, firm export momentum and healthy y-o-y growth in consumption. Softer imports continue to reinforce domestic demand strength, while stable production and an improving trade balance contribute to a constructive and favourable market outlook.
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