India Metals & Mining Trade
India is the world's second-largest steel producer and a significant global player in aluminium and copper. The metals and mining sector reflects India's dual role: a net exporter of processed metals like flat steel, aluminium, and copper; and a net importer of raw materials — coking coal, iron ore concentrates, copper ore, and ferrous scrap.
India's steel industry, led by Tata Steel, JSW Steel, Steel Authority of India (SAIL), and ArcelorMittal Nippon Steel India, has invested heavily in expanding capacity. India surpassed Japan to become the world's second-largest steel producer in 2023, with installed capacity exceeding 160 million tonnes per annum.
Aluminium is another strength: Hindalco Industries (Novelis parent) and Vedanta's BALCO operate large integrated smelters. India is a net aluminium exporter — competitive refinery and smelter operations give Indian producers global cost advantages. The shift to EVs and renewable energy is structurally positive for aluminium demand (used in EVs, solar frames, high-voltage power lines).
| Year | Exports | YoY | Imports | YoY | Balance |
|---|---|---|---|---|---|
| FY 2025-26 | $14.4B | -58.7% | $26.2B | -55.1% | $11.8B |
| FY 2024-25 | $34.8B | -13.2% | $58.4B | +7.5% | $23.6B |
| FY 2023-24 | $40.0B | -0.9% | $54.3B | +5.0% | $14.3B |
| FY 2022-23 | $40.4B | -22.8% | $51.7B | +18.4% | $11.3B |
| FY 2021-22 | $52.3B | +50.8% | $43.7B | +56.8% | +$8.6B |
- →India is world's 2nd largest steel producer (surpassed Japan in 2023)
- →Net importer of coking coal (Australia is the dominant supplier)
- →Aluminium: Hindalco and Vedanta compete globally with low-cost smelters
- →Steel exports volatile — subject to anti-dumping duties in the EU and USA
- →EV transition is a long-term tailwind for aluminium demand
Key listed names: Tata Steel, JSW Steel, SAIL, Hindalco, Vedanta, Jindal Steel & Power, NMDC. Steel exports are cyclically sensitive — slowing global demand or anti-dumping actions can sharply cut export volumes. Aluminium plays (Hindalco) benefit from EV/renewable energy transition. Coking coal prices directly affect steel producers' input costs.