Iron and Steel

Iron and Steel

India is a major global steel producer but also a net importer of finished steel, with recent data showing imports exceeded exports in FY 2023-24 and the first few months of FY 2024-25. Iron ore imports, driven by domestic demand and shortages, reached a six-year high in November 2024, with Australia being the largest supplier. Top import sources for steel include China and Vietnam, with China holding a significant and growing share of India's steel imports.