India’s steel mills significantly increased their overseas iron ore purchases this year, driving imports to a six-year peak.
This surge was motivated by the need to compensate for domestic shortages of high-grade ore and capitalise on the more favorable global prices for the key steelmaking raw material, according to a Reuters report.
Iron ore imports surpassed 10 million metric tons in the first ten months of 2025, representing a more than two-fold increase compared to the previous year.
The data was shared with the news agency by Lalit Ladkat, a senior analyst at CRU Group, which is headquartered in London.
Between January and October of the current fiscal year, JSW Steel, which holds the distinction of being India’s largest steel producer by operational capacity, significantly increased its reliance on international markets for its iron ore requirements.
This aggressive procurement strategy has positioned JSW Steel as the country’s top buyer of iron ore from overseas suppliers during this ten-month period, according to detailed analyses from industry experts and confirmation from regulatory and company officials.
This surge in foreign sourcing is a crucial indicator of the dynamics currently shaping the Indian steel industry.