The main factors behind the growth were preventive restocking by EU buyers and concerns about the cost of metal products ahead of the introduction of CBAM on January 1, 2026. Supplies to the bloc increased by 45% year-on-year to 2.46 million tons during the period.
Exports of hot-rolled coils (HRC) in January-November increased by 77% year-on-year to 1.68 million tons, cold-rolled coils (CRC) – by 37.1% y/y, to 0.42 million tons, steel semi-finished products – by 80% y/y, to 0.71 million tons, long products – by 24% year-on-year, to 0.44 million tons.
Steel imports to India during the period amounted to about 6.54 million tons, down 13% year-on-year. The decline was influenced by a 12% protective duty.
India is confidently moving towards its strategic goal of 300 million tons per year by the 2030/2031 fiscal year.