Mumbai: The country’s steel imports reached nine -year high level 10.1 million tonnes in the finished financial year 2025. India has been a pure importer of steel in the last financial year, due to the increase in import of prepared flat steel and a decline in steel exports.
India’s steel exports have been declining continuously for the last three years after reaching the peak of 1.85 crore in FY 2022 and it was 6.950 lakh tonnes in the last financial year. Thus, exports have declined by more than 60 percent in three years.
Domestic steel prices remain under pressure due to cheap imports from South Korea, China and Japan.
The country’s steel imports have been the highest in FY 2025 since FY 2016. The total import in the financial year 2016 was 11.8 million tonnes.
The country’s steel exports are becoming unpredictable due to huge differences between domestic and international prices and cheap imports are increasing.
Sources in the Ministry of Steel said that steel imports are increasing overall due to an increase in the import of ready -made flat steel used in automobiles and their spare parts in the country.
In view of the increase in steel imports, the government has finally decided to impose 12 percent security duty on steel. The possibility of increasing the demand for steel cannot be ruled out with an increase in the activities of the infrastructure sector in the country.
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