According to preliminary government data, India’s imports of finished steel from China hit a record high in the first eight months of the fiscal year ending in March 2025, which heightened worries among domestic mills about low-cost shipments from China. India, the world’s second-largest producer of crude steel, was a net importer during the period, and total finished steel imports reached an eight-year high. According to the data, India imported 6.5 million metric tons of completed steel, a 26.6% rise from the previous year.
According to the data, China supplied 1.96 million metric tons of steel to India between April and November, a 22.8% increase from the previous year. Stainless steel, hot-rolled coil, plates, electrical sheets, pipes, bars, and rods, as well as galvanized plain or corrugated sheets, were among the grades that Beijing mostly exported. According to the data, Japanese finished steel imports more than doubled to 1.4 million metric tons between April and November, hitting at least a six-year record. During that time, 79% of India’s total imports of finished steel came from China, Japan, and South Korea. During that time, the most imported steel product was hot-rolled coils, while the most imported non-flat product type was bars and rods. In order to decide whether to levy a safeguard duty, a temporary tax, New Delhi has started an investigation.
In the fiscal year that concluded in March 2024, India became a net importer of steel, and since then, imports have risen rapidly. As New Delhi joins an increasing number of nations considering actions to limit imports, the influx of low-cost Chinese steel has forced India’s smaller factories to reduce operations and think about laying off workers. India’s steel consumption has remained high in contrast to other major nations because of the country’s strong economic growth and the introduction of new infrastructure projects. According to the report, finished steel exports from April to November hit an eight-year low. The biggest export destination for India’s finished steel was Italy, however exports decreased 31.8% annually. According to the report, finished steel shipments to Belgium and Britain increased by 6.9% and 16%, respectively.
