[SMM Iron & Steel] India Reverts to Net Importer of Finished Steel in April 2026 Amid Soaring Consumption

Published: May 26, 2026 16:19

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According to provisional government data, India became a net importer of finished steel in April 2026—the first month of the 2026-2027 fiscal year. During the month, finished steel imports surged by 30.8% year-on-year to an estimated 0.7 million metric tons (mt), outpacing the 0.5 million mt in exports, which also grew by 24.9% over the corresponding month of the previous year. This trade reversal contrasts with the recently concluded 2025-2026 fiscal year, where India achieved a net exporter status with 6.6 million mt of total exports against 6.5 million mt of imports. The shift was primarily fueled by an 8.2% jump in domestic finished steel consumption to approximately 13 million mt, while crude steel production recorded a narrower 3.9% growth to 13.8 million mt.

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