India's Steel Industry Battles Surge of Cheap Imports

It seems all the fears expressed by Indian steelmakers and policymakers are coming true. There just seems to be no stopping the flood of cheap steel imports into domestic markets, a problem that continues to cause great agony for Indian steel manufacturing leaders. India became a net importer of steel in the first quarter of FY25 April to June, with steel imports exceeding exports by approximately 0.6 million tons MT.

A group led by the Institute of Minerals and Materials Technology IMMT recently evinced interest in piloting this initiative using a 100% hydrogen-based DRI production method. According to the reports, the Indian Steel Ministry will partially support the project.However, experts project that the market for DRI gas and coal-based will grow by 5% to 54 MT compared to the last fiscal year.

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