India increased its rolled steel exports by 36% y/y in FY2025/2026

In the 2025/2026 fiscal year (ending March 31), India increased its rolled steel exports by 36% year-on-year, reaching 6.6 million tons. This was reported by Argus Media, citing preliminary data from the country’s Ministry of Steel’s Joint Production Committee.

The growth in exports was driven by strong demand from Europe in the second half of 2025, as buyers stockpiled ahead of changes to the bloc’s trade policy in 2026.

Italy became the largest export market for Indian steelmakers in the 2025/2026 fiscal year, with 1.07 million tons (+51% year-on-year). The second-largest market was Vietnam, thanks to anti-dumping measures and an investigation into their circumvention regarding Chinese hot-rolled coil. Rolled steel shipments to this country during the period totaled 772,300 tons, compared to approximately 11,000 tons in the 2024/2025 fiscal year.

However, this year, the outlook for Indian rolled steel exports will be complicated by European trade barriers and geopolitical uncertainty. The largest export market for India

However, trade barriers in Europe and geopolitical tensions are complicating the outlook for Indian exports this year. In particular, the escalation of the conflict in the Middle East has forced the suspension of offers to the Gulf Cooperation Council (GCC) region and the postponement of shipments for prior orders.

As a reminder, in the 2025/2026 fiscal year, India reduced its exports of iron ore and pellets by 15% year-on-year, to 25.78 million tons. During this period, the country sold iron ore primarily to China.