India's Metal and Mineral Exports: Steel, Copper, and Beyond

India became a net exporter of finished steel in FY2025-26. That sounds like a routine data point until you know the context: the country had spent the previous two consecutive years as a net importer. Chinese steel was coming in cheaply, Indian mills were struggling with margins, and the government eventually imposed a provisional safeguard duty to stop the bleeding. The duty worked. Imports fell 21% year-on-year in the January-April 2025 period. Indian mills started exporting again.

But the story does not end there, because China is still pushing volume into global markets at prices that make even large steel producers nervous. India transitioned to a net exporter of finished steel in the April 2025-March 2026 fiscal year after two consecutive years as a net importer. Whether that position holds into FY27 depends on what China does with its overcapacity, what trade barriers remain in Europe, and whether US tariffs on steel give India any opening or just compress margins further.

That is the honest framing for steel. And it matters for anyone thinking about India's metal and mineral export sector, because the sector is not a simple growth story. It has tailwinds and headwinds running at the same time, in different categories, toward different markets. Understanding which metal is in which situation requires looking at each one separately.

India's FY25 mineral production numbers were genuinely impressive across the board. Iron ore reached 289 million metric tonnes, a 4.3% increase from the previous record of 277 MMT in FY24. Primary aluminium production set a new record at 42 lakh tonnes. Refined copper output grew 12.6%, rising from 5.09 lakh tonnes to 5.73 lakh tonnes. Those are records in production. The export story from those production numbers is where it gets more nuanced.

The Sector Overview

Category	FY25 Production	Global Rank	Export Notes
Iron ore	289 MMT (record)	4th largest producer	Export duty adjusted; China dominant buyer
Steel (finished)	Net importer in FY24, net exporter in FY26	2nd largest producer	Safeguard duty changed the picture
Aluminium	4.2 MT (record)	2nd largest producer	Hindalco, Vedanta, Nalco are major exporters
Copper (refined)	5.73 lakh tonnes (+12.6%)	Top 10 globally	Fastest production growth; EV demand driver
Ferro alloys	Growing segment	Significant supplier	Chrome, manganese, ferrochrome exports
Critical minerals	National mission underway	Multiple categories	Graphite, lithium, cobalt attention growing

Sources: Ministry of Mines PIB data, IBEF Metals and Mining Report (FY26), Business Standard FY26 sector analysis

1. Steel: A Net Exporter Again, But the Fight Is Not Over

India is the world's second-largest steel producer, behind China. That ranking masks something important: India's steel industry mostly serves its own domestic market. Exports are real but modest relative to total production. The domestic construction boom, infrastructure spending, and automobile sector together absorb the vast majority of what Indian mills produce.

From FY26 (April-February), India's crude steel production reached 153.6 MT, while finished steel production stood at 146.8 MT; finished steel consumption was slightly higher at 147.7 MT, reflecting strong domestic demand. You can see the dynamic right there: domestic consumption is almost exactly matching production. Export volumes are essentially the residual.

That residual is still significant. India's exports of iron and steel were $10.18 billion during 2024, according to the United Nations COMTRADE database on international trade. That is a real number. The challenge is building on it when global steel markets are under pressure from Chinese overcapacity.

What India exports in steel:

Stainless steel products are India's most valuable steel export category. Ferro alloys are significant. Flat-rolled products, bars, rods, and wire round out the export basket. Tata Steel, JSW Steel, ArcelorMittal Nippon Steel India (AMNS India), SAIL, and Jindal Steel are the major producers with export capacity.

Tata Steel is the most internationally oriented of the group, partly because of its ownership of legacy European operations (Port Talbot in Wales is the famous one, though that facility is undergoing significant restructuring). During the Q2 FY26 earnings call, Tata Steel plans a 7-7.5 million tonne capacity expansion across its Indian operations, with major brownfield projects at Kalinganagar, Neelachal, Meramandali, Ludhiana, and Gamharia moving through planning and approval stages.

The specialty steel angle is particularly interesting for export. The Ministry of Steel introduced the PLI Scheme 1.1 in January 2025 for five product categories, to be implemented from FY26 to FY30. Specialty steel - electrical steel, bearing steel, tool steel, spring steel - commands premium pricing globally and is a category where India historically imported rather than exported. The PLI push is trying to change that.

The China problem:

The honest challenge in steel export is straightforward: China produces roughly half of the world's steel, its domestic demand has softened, and it is pushing the surplus into global markets. There are concerns around Chinese steel prices, which are trending down. Moreover, China continues to push volumes into the rest of the world, said Ranjan Dhar, director and vice-president of sales and marketing at ArcelorMittal Nippon Steel India.

India has responded with a provisional safeguard duty on steel imports to protect its domestic producers. That helped Indian mills compete domestically, but it does not solve the problem when trying to export to markets where Indian and Chinese steel are competing head-to-head.

The EU situation:

Europe is a significant potential export destination for Indian steel, but it is complicated by EU safeguard measures that restrict steel imports from all countries through tariff-rate quotas. India has quota allocations within the EU system, but the quantities are limited and the administrative process adds friction. The EU's Carbon Border Adjustment Mechanism (CBAM), which applies to steel from 2026, adds another layer - Indian steel producers will need to report and eventually pay a carbon cost based on the emissions intensity of their production, which varies significantly across Indian mills.

Key buyers: The US took $488.28 million in Indian iron and steel in 2024 (UN COMTRADE). Stainless steel products dominate the US-bound export mix. Europe collectively is significant. The UAE is a regional hub for re-export of steel into construction markets.

View : Steel & Iron Product

2. Iron Ore: India Is a Major Exporter, But Policy Keeps Shifting

Iron ore alone contributes 70% of the total MCDR mineral production by value. Production hit a record 289 MMT in FY25. India is the world's fourth-largest iron ore producer.

The export situation has gone through multiple policy reversals, and understanding the current stance matters before anyone builds a sourcing strategy around Indian iron ore.

Between 2022 and 2023, India imposed a 50% export duty on iron ore (lumps and fines) to protect domestic steel producers from raw material shortages. This effectively stopped iron ore exports. The duty was subsequently reduced in stages. Export duties on iron ore and steel products have been adjusted, and import duties on certain coal and ferronickel products reduced to zero to balance domestic supply and protect local producers.

The adjustment means iron ore export is possible again - but the volume available for export depends heavily on domestic steel sector demand. When Indian steel mills are running at high capacity, domestic demand absorbs more ore and less is available for export. When there is a surplus, export flows resume.

NMDC is the dominant iron ore miner in India, operating major mines in Chhattisgarh and Karnataka. Its export volumes have fluctuated with policy changes. Private miners in Odisha and Goa are also significant producers.

Who buys Indian iron ore: China has historically been the dominant buyer of Indian iron ore. Japan and South Korea buy some volumes. The proximity advantage for India when exporting to East Asia is real.

Key HS codes: 2601 (iron ore and concentrates).

View : Steel & Iron Product

3. Aluminium: Strong Production, Growing Export Ambition

India is the world's second-largest aluminium producer. Primary aluminium production broke records in the non-ferrous metal sector, increasing from 41.6 lakh tonnes in FY24 to 42 lakh tonnes in FY25.

The three major producers - Hindalco (part of the Aditya Birla Group), Vedanta Aluminium (part of Vedanta Resources), and NALCO (government-owned) - together account for essentially all of India's primary aluminium production. All three export.

Hindalco is the most internationally oriented. It owns Novelis, one of the world's largest aluminium rolling companies (US-based, operates globally), which gives it a processing and distribution network that most Indian metal companies do not have. Vedanta's aluminium business in Odisha is one of the lowest-cost smelting operations in the world, partly because of proximity to bauxite resources and captive power.

What gets exported:

Primary aluminium in ingot, billet, and wire rod form. Rolled products - sheets, coils, foils - are the value-added categories where India is building capability. Aluminium alloy wheels for the automotive sector are an export category. Foil for packaging is a growing segment.

Key buyers: The global aluminium market is genuinely integrated - metal flows to whoever offers the best delivered price. India's aluminium has found buyers in Asia (Japan, South Korea, China), the Middle East, and increasingly in Europe and the US as the global green energy transition drives aluminium demand in solar panels, EV battery housings, and power transmission.

The energy advantage: Indian aluminium smelting is relatively low-carbon in the renewable energy era. Vedanta's captive power arrangement, combined with India's growing renewable energy share in the grid, is improving the carbon intensity of Indian aluminium - which matters for buyers in the EU who will face CBAM charges based on embodied carbon.

Key HS codes: 7601 (unwrought aluminium), 7604-7609 (bars, rods, profiles, tubes), 7610 (aluminium structures).

View Alloy Materials, Aluminium Product 

4. Copper: The Fastest-Growing Production Story

Refined copper production registered a robust 12.6% growth, increasing to 5.73 lakh tonnes from 5.09 lakh tonnes in FY24. This surge is particularly significant given the importance of copper in emerging sectors like electric vehicles, electronics, and renewable energy infrastructure.

Early FY26 numbers are even more striking. Refined copper production jumped by 43.5% to 0.99 lakh tonnes during FY26 (April-May), compared to 0.69 lakh tonnes in the year-ago period. A 43.5% jump in two months is not noise - it is production capacity coming online.

The context: Hindustan Copper Limited (HCL) is India's primary copper miner. Hindalco has a significant copper smelting and refining operation at Dahej, Gujarat. The Dahej facility is a major exporter of copper cathodes and rods. But India's domestic copper supply remains below what its manufacturing sector needs - India is still a net importer of copper concentrates from countries like Chile, Peru, and Australia, which it then refines and partially exports as value-added copper products.

The EV and green energy angle matters here:

Copper's role in the energy transition is structural. Electric vehicles use 3-4 times more copper than internal combustion vehicles. Wind turbines use substantial copper in their generators and cabling. Solar installations need copper wiring and busbars. India's manufacturing push in EVs and renewables is creating domestic demand for copper at the same time that its export capacity is growing - which creates an interesting tension in the medium term.

What gets exported:

Copper cathodes from refineries. Copper wire and rod for electrical applications. Copper tubes and fittings for plumbing and HVAC. Copper alloy products including brass billets from companies like Hindalco's Birlapur facility.

Key buyers: China, UAE, and the broader Asian manufacturing belt. Europe for some value-added copper products.

Key HS codes: 7401-7419 (copper and articles thereof), 7402 (unrefined copper), 7403 (refined copper - cathodes and rods).

View : Copper Products

5. Ferro Alloys: A Quietly Significant Export Category

India is a significant exporter of ferro alloys - ferro chrome, ferro manganese, silico manganese - which are essential inputs for steel production globally.

India's ferro chrome exports benefit from domestic chromite ore reserves in Odisha. Tata Steel's ferro alloy operations, FACOR, Indian Metals and Ferro Alloys (IMFA), and others produce ferro alloys for export to steel mills in Japan, South Korea, Taiwan, Europe, and the US.

Ferro manganese and silico manganese are produced from manganese ore mined primarily in Odisha and Maharashtra. India's manganese ore production grew 11.8% in FY25 to 3.8 MMT - supporting continued output in the downstream ferro alloy sector.

This is a category where India's natural resource base creates genuine competitive advantage. Chromite ore in Odisha, manganese ore in Odisha and Maharashtra - these are domestic raw materials feeding a downstream export product. That is different from aluminium, where India imports some bauxite, or copper, where concentrates are largely imported.

Key HS codes: 7202 (ferro alloys), 2606 (bauxite), 2602 (manganese ores and concentrates).

View : Ferrous & Non Ferrous Scrap

6. Critical Minerals: Where India Is Trying to Build Position

This category will matter more in the next decade than it does today. The honest current position: India produces some critical minerals but imports significantly more than it exports, particularly in categories like lithium, cobalt, and rare earth elements.

The National Critical Mineral Mission (NCMM), launched in 2024-25, is India's government response to the strategic importance of these materials. India plans to train 5.7 million workers by 2030 in the mining sector under the National Critical Mineral Mission to boost domestic critical mineral production and cut import dependence.

India does have some naturally occurring critical mineral deposits - graphite in Arunachal Pradesh and Jharkhand, lithium discovered in Jammu and Kashmir, rare earth elements in Kerala's monazite-bearing beach sands. The mining and processing of these is at an early stage.

What India currently exports in the critical mineral-adjacent space: high-purity processed minerals, mineral-based chemicals, and some refined materials for industrial applications. The long-term target is to become a processing hub for critical minerals, similar to what China has achieved. That transition will take years.

View : Industrial Minerals, Non-metallic Minerals, Precious Metals, Zinc & Nickel Products, Ores & Concentrates

The Policy Environment: What Exporters and Buyers Need to Know

Steel and metal export from India operates within a policy framework that changes more frequently than most guides acknowledge. Here are the key elements that are currently relevant.

Safeguard duty on steel imports: India imposed a provisional safeguard duty (of 12%) on certain steel imports in mid-2025 to protect domestic producers. This reduces the competitive pressure from Chinese steel on domestic producers - but it also means India's domestic steel prices are somewhat higher than import parity, which can affect export competitiveness in third markets. India probes anti-dumping on hot-rolled steel imports from China, Japan, and Russia amid rising supply pressure. That investigation is ongoing and its outcome will further shape the import/export dynamic.

Export duty adjustments: Iron ore export duties have been adjusted multiple times in recent years. The current position allows ore export at reduced duty rates compared to the 50% duty of 2022-23. Check current DGFT notifications before finalizing any iron ore supply contract.

EU CBAM for steel: From 2026, Indian steel exporters to the EU must report the carbon content of their products. From 2034, they will pay a financial adjustment equivalent to the EU ETS carbon price on that carbon content. Indian blast furnace-based steel will face higher CBAM costs than electric arc furnace (EAF) steel because of the higher carbon intensity of the production route. Tata Steel's Kalinganagar plant has some EAF capacity; most Indian steel is still BOF (basic oxygen furnace) based.

US tariffs on steel and aluminium: The US has maintained Section 232 tariffs of 25% on steel and 10% on aluminium since 2018. These were increased. For Indian exporters, this means US-bound steel exports face a meaningful tariff that affects the delivered price calculation. India's stainless steel and specialty products continue to export to the US because there are no domestically produced equivalents at the same price-quality point.

PLI for specialty steel: The Ministry of Steel introduced the PLI Scheme 1.1 in January 2025 for five product categories, to be implemented from FY26 to FY30. This incentivizes domestic production of specialty steel, reducing import dependence and eventually building an export base.

Manufacturing Clusters and Mining Geography

Steel mills: Jharkhand, Odisha, and Chhattisgarh host major integrated steel plants (Tata Steel Jamshedpur, SAIL Bokaro and Rourkela, JSW Steel Dolvi). Gujarat (Surat area) hosts AMNS India's flat products mill. Punjab and Maharashtra have significant EAF-based mills serving regional markets.

Aluminium: Odisha dominates - Vedanta's Jharsuguda and Lanjigarh operations are among the largest smelters in the world. Hindalco operates in Odisha, Uttar Pradesh, and Jharkhand. NALCO's smelter at Angul, Odisha.

Copper: Gujarat (Hindalco's Dahej copper complex) is the primary location for refined copper production. HCL's mines are in Rajasthan (Khetri), Jharkhand (Ghatsila), and Madhya Pradesh (Malanjkhand).

Ferro alloys: Odisha is dominant for ferro chrome (FACOR at Nagpur, IMFA at Therubali). Maharashtra for manganese-based alloys.

Iron ore: Odisha, Jharkhand, Chhattisgarh, Karnataka (Bellary-Hospet belt for NMDC). The largest iron ore deposits are in the eastern belt.

Top Destination Countries

For steel, the buyer universe is genuinely global. India's exports of iron and steel to the United States were $488.28 million during 2024. The US buys primarily stainless steel products and ferro alloys.

Italy, Germany, and Belgium are significant European buyers of ferro alloys and specialty steel products. The UAE routes steel products into regional construction markets. China has historically bought Indian iron ore; it also buys some Indian ferro alloys and specialty metals.

For aluminium: Japan, South Korea, China, and Southeast Asian manufacturers buy Indian primary aluminium. US and European buyers buy some value-added Indian aluminium products.

For copper: the picture is less geographically concentrated - copper cathodes are a globally traded commodity and Indian product sells where the price is competitive.

Compliance: What Metal Exporters Need

IEC from DGFT: Standard requirement for all exports.

EEPC RCMC: Engineering Export Promotion Council covers metals and metal products.

BIS certification: For steel products sold in India under mandatory certification schemes. For export, BIS to relevant IS codes is the domestic baseline.

HS code precision: This matters enormously in metals because tariff treatment varies significantly within chapters. Chapter 72 (iron and steel), Chapter 74 (copper), Chapter 76 (aluminium). Getting the 4-digit or 8-digit sub-heading right determines the import duty rate in destination countries and whether FTA benefits apply.

Certificate of origin: For FTA benefit claims (India-UAE CEPA, India-Australia CEPA, India-UK FTA), a proper Certificate of Origin from a recognized issuing authority is required. For metal products, EEPC and Chambers of Commerce issue these.

EU CBAM registration: From 2026, exporters of steel, aluminium, and certain other materials to the EU must register in the CBAM registry and report embedded carbon emissions. This is a new compliance requirement that Indian metal exporters targeting the EU cannot ignore.

Mine compliance: For iron ore and other minerals, the MMDR (Mines and Minerals Development and Regulation) Act and applicable state mining rules govern production and export. Mines must hold valid leases, environmental clearances, and comply with the Mineral Conservation and Development Rules (MCDR).

Government Support

National Steel Policy (revised): Targets 300 MT steel production capacity by 2030 and 500 MT by 2047. Backs expanded export capability alongside domestic demand growth.

PLI for Specialty Steel: Rs 6,322 crore outlay covering electrical steel, alloy steel bars and rods, bearing steel, and specialty rails. Direct support for the highest-value steel categories with the best export potential.

National Critical Mineral Mission: Rs 16,300 crore allocated for exploration, processing, and supply chain development for critical minerals. Direct relevance for any exporter building position in graphite, lithium-adjacent minerals, or rare earths.

National Mineral Exploration Policy: Increased private sector participation in mineral exploration, aiming to find and develop mineral reserves that will underpin export capacity over the next decade.

NMDC (National Mineral Development Corporation): Government-owned iron ore miner with direct export capability. Sets a benchmark for pricing and volume in iron ore trade.

Government links worth bookmarking:

• Ministry of Steel: steel.gov.in
• Ministry of Mines: mines.gov.in
• NMDC: nmdc.co.in
• IBEF Metals and Mining: ibef.org/industry/metals-and-mining

How to Start Exporting Metals and Minerals from India

Step 1: IEC from DGFT. Standard. No export without it.

Step 2: EEPC RCMC. For engineering goods including metals and metal products. Unlocks Market Development Assistance for trade fairs and export promotion.

Step 3: Identify HS code at 8-digit level. Do not assume based on generic category names - have a customs consultant or freight forwarder verify the exact sub-heading for your specific product. The difference between 7208 and 7209 (hot-rolled vs cold-rolled steel) determines your tariff rate in most markets.

Step 4: Check current export policy. For iron ore especially, export duty rates and restrictions change. Verify current DGFT notifications before contracting with any buyer.

Step 5: EU CBAM registration if targeting European buyers from 2026. This is a new operational requirement that will not go away.

Step 6: Certificate of origin for FTA markets. India-UAE CEPA provides preferential access for certain metal products. Confirm which HS codes qualify.

Step 7: Quality documentation. For steel exports to the US, mill test certificates (material test reports) are standard buyer requirements. For aluminium, purity certificates. For copper cathodes, LME-registered brand certification if targeting commodity markets.

Pre-Export Checklist

1. IEC from DGFT 
2. EEPC RCMC 
3. GST registration 
4. HS code confirmed at 8-digit level
5. Current export duty on your product checked (iron ore especially)
6. Mine lease and MCDR compliance confirmed for mineral exports
7. Certificate of origin arranged for FTA market exports
8. EU CBAM registration if targeting EU from 2026
9. Mill test certificate or quality certificate in buyer's required format
10. RoDTEP rate confirmed for your specific HS code

Related Navi Exports Categories

• Metals, Nonmetals and Minerals Exporters
• Industrial Equipments and Tools
• Electrical Equipment and Accessories
• Machinery and Parts
• Chemicals Exporters

The Bottom Line

India's metal and mineral export story in 2026 has three threads running at once.

The good thread: record production in iron ore, aluminium, and copper. A return to net steel exporter status. Growing ferro alloy exports. A critical mineral policy finally taking shape. These are real positives.

The complicated thread: Chinese steel overcapacity is the single largest threat to Indian steel export margins, in any market where the two compete. The EU's CBAM will add costs for Indian steel exporters from 2026. Iron ore export policy is subject to change on short notice depending on domestic demand.

The forward-looking thread: specialty steel PLI, critical mineral mission, copper production surge at 43.5% in early FY26 - these point toward a sector that is building higher-value export capability rather than just shipping raw material.

For buyers sourcing metals from India: India offers genuine competitive sourcing in stainless steel, ferro alloys, aluminium, and now copper. The quality of the major producers (Tata Steel, Hindalco, Vedanta, AMNS India) is internationally benchmarked. The policy risk on iron ore and the carbon compliance requirement for EU steel are the two items worth tracking closely.

For new exporters: the compliance investment is real. CBAM, HS code precision, export duty monitoring, and quality certification are not optional overhead. They are the difference between a shipment that clears smoothly and one that does not.

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