Steel exports contract in Q1FY26

 

India’s steel exports declined 5% year-on-year (y-o-y) to 1.2 million tonnes (mt) in the April-June period of FY26, as against 1.3 mt in Q1FY25, with large markets in the European Union (EU) witnessing lower buying. The country was still a net importer of the alloy, at 1.4 mt, outpacing exports by 0.2 mt. Exports to the US surged 200% – primarily driven by stainless steel, alloys, and bar and rod shipments – to 71,000 tonnes (23,400 tonnes). The EU was the largest market, accounting for 0.57 mt – or 48% of the alloy exports. However, shipments to the region were down 3% y-o-y (0.6 mt). Of the nine EU markets, Belgium saw a 41% y-o-y increase to 0.23 mt, followed by Spain – up 36% at 0.12 mt. Steel shipments to Germany and Greece also increased, as per a report.

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