New Delhi, Oct. 9 -- New Delhi: India's steel imports dropped 30% year-on-year (y-o-y) to 3.3 million tonnes (mt) in the first six months of the current financial year (FY26), reflecting the impact of import tax to shield local players and subdued domestic prices.

Yet, despite the steep fall, the country remained a net importer, with inbound shipments exceeding exports by 0.5 mt.

According to an internal Union steel ministry report, reviewed by Mint, exports rose 21% y-o-y to 2.8 mt, buoyed by improved demand from Europe and South-East Asia. September was the strongest of the six months for exports, with shipments at 0.58 mt.

During the April-September period of 2004-25, steel imports stood at 4.74 mt, and exports at 2.31 mt, resulting...