India’s imports of finished steel from China hit a record high in the first eight months of the fiscal through March 2025, provisional government data showed, adding to concerns among domestic factories over cheap shipments from China.
Total imports of finished steel were at an eight-year high, while India, the world’s second-largest crude steel producer, was a net importer during the period.
India shipped 6.5 million tonnes of finished steel, up 26.6% year-on-year, the data showed.
China sent 1.96 million tonnes of steel to India between April and November, up 22.8% year-on-year, the data showed.
Beijing mainly exported stainless steel, hot-rolled coil, plates, electrical plates, galvanized plain or corrugated sheets, pipes, bars and rods, among other grades.
Finished steel imports from Japan also hit a six-year high between April and November, with imports more than doubling to 1.4 million tonnes, according to the data.
China, Japan and South Korea accounted for 79% of India’s total finished steel imports during this period.
Hot-rolled coil was the most imported steel product during the period, while bars and rods exceeded imports in the non-flat products category.
New Delhi has launched a probe to determine whether to impose a safeguard duty – a temporary tax – of up to 25% to curb rampant steel imports.
India became a net importer of steel in the fiscal year ending March 2024, and imports have increased steadily since then.
The flow of cheap Chinese steel has prompted India’s smaller factories to scale back operations and consider job cuts, as New Delhi joins a growing list of countries considering measures to curb imports.
Unlike other major economies, Indian steel demand has remained strong, thanks to robust economic growth and the launch of new infrastructure projects.
Finished steel exports fell to an eight-year low in April-November, the data showed.
Italy was the largest export market for India’s finished steel, but deliveries fell 31.8% year-on-year.
Exports of finished steel to Britain and Belgium rose by 16% and 6.9% respectively, the data showed.
