India’s Steel Imports Drop 27.6% in April-May 2025
India’s finished steel imports saw a significant decline of 27.6% in the first two months of the 2025 financial year, as shipments from key suppliers China and Japan dropped considerably, according to provisional government data. The country imported 0.9 million metric tons of finished steel during April-May, with imports from China falling 47.7% and those from Japan declining by 65.6% compared to the same period last year.
Impact of Safeguard Duty on Imports
The decline in imports follows India’s imposition of a 12% temporary tariff, or safeguard duty, on certain steel products in April. The move aimed to curb the surge of cheap steel imports, especially from China. During the period, China exported 0.2 million metric tons of finished steel to India, while Japan shipped just 0.1 million metric tons. Despite these declines, South Korea emerged as the top finished steel exporter to India, with shipments increasing by 8.2% to 0.4 million metric tons.
Also Read: India's Green Steel Incentives on Hold Amid Green Hydrogen Cost Concerns
Steel Production and Exports
Regarding steel production, India’s crude steel output grew by 9.5% to 26.9 million metric tons during the same period. Finished steel consumption in India also rose 7.1%, reaching 25.1 million metric tons. However, India's finished steel exports fell 18.1%, totalling 0.8 million metric tons. Galvanized plain or corrugated sheets were India's largest export category, with Belgium being the top export market, seeing a 12.4% increase in shipments. Conversely, exports to Italy dropped by 53.7%, while shipments to Nepal and Spain grew.
