New Delhi, June 10 -- India remained a net importer of finished steel for the second consecutive month of FY27, according to provisional data from the steel ministry, reviewed by Mint. This shift in trade flows comes as the ongoing Iran war reshapes global market demand. In May, finished steel imports jumped 62.5% year-on-year to 0.689 million tonnes (mt), while exports rose 29.9% to 0.508 mt, widening the country's trade deficit in finished steel.

Dhruv Goel, chief executive of BigMint, a commodities market intelligence firm, said, "The current imports are largely undertaken by pipe manufacturers located on India's western coast under the Advance Authorisation Scheme. These imports are primarily meant for re-export, catering to growing ...