Overview
- Official data show finished steel imports down 29% to 3.3 million tonnes in H1, with exports up 22% to 2.8 million tonnes.
- India stayed a net steel importer for six consecutive months through September despite lower inbound volumes.
- The Reserve Bank of India’s October bulletin warned that aggressive overseas pricing and higher imports are weighing on domestic producers.
- New trade measures, including safeguard and anti-dumping duties and stricter BIS norms, have raised landed costs and narrowed the gap with local prices.
- Domestic hot-rolled coil prices sit at multi-year lows and primary producers face margin strain, with JSW Steel reporting a sequential profit decline to Rs 1,493 crore in Q2.