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| Steel raw material |
Strategic Talks Target Argentina, Indonesia, and Oman
India plans to increase steel raw material imports, focusing on coking coal, iron ore, and critical minerals.
However, domestic shortages and global supply risks challenge the steel sector’s stability.
The country will hold discussions at Bharat Steel 2026 to secure diversified sourcing and long-term supply agreements.
Argentina, Indonesia, and Oman could supply lithium, nickel ore, and iron ore to Indian steelmakers.
Meanwhile, Indonesia controls the largest nickel ore reserves, essential for ferronickel and stainless steel production.
India also signed agreements with Brazil to expand mining cooperation, supporting raw material security.
Rising Imports Amid Domestic Shortages and Gas Crisis
Iron ore imports are expected to reach a seven-year high of 12–14 million tons in 2025/2026.
As a result, JSW Steel and other producers face operational pressures due to gas shortages and domestic constraints.
Additionally, India aims to diversify export markets from Europe to Asia and the Middle East, mitigating CBAM impact.
ScrapInsight Commentary
India’s rising steel raw material imports indicate supply chain vulnerability and near-term price pressures.
Securing lithium, cobalt, and rare earths is essential for cleaner energy transition and export growth.
