India’s Steel Imports Cool Off—Asian Giants Retreat, European Plates Heat Up

India's imports of finished steel decreased in April 2025, down 11.3% from last year to start at 0.5 million metric tons, according to preliminary government figures published today. The drop was chiefly due to a significant decrease in imports from China and Japan following the Indian government’s recent introduction of a 12% temporary tariff - known as a safeguard duty - on certain steel imports to address unprecedented volumes of low-priced imports, especially from China.

 

Shipments from China fell to 0.1 million metric tons in April, a 26.5% decrease compared with 2024. Japan also saw a fall in imports, down 60% year-on-year to 85,600 metric tons.

 

Despite decreasing imports overall, South Korea emerged in April as India's largest finished steel supplier. Finished steel imports from South Korea increased year-on-year 2.4% to 0.15 million metric tons. Imports to India spiked suddenly from France and Germany, with Germany exporting more than five times the same month last year (30,600 metric tons), and France exporting ten times more year-on-year to 30,300 metric tons. Most of this steel consists of plates, used widely in the construction industry, heavy machinery manufacturing, and transportation.

 

Exports of finished steel from India also dropped year-on-year in April by 25.7% to 0.4 million metric tons. All the major destinations for Indian exports in Europe saw reduced imports, as India’s export volumes to Italy dropped 60.4%, and Belgium, which decreased 6%.

 

In spite of the dip in quantities imported and exported, India's crude steel production in India remained strong at 12.4 million metric tons for finished steel in April, while crude steel output came to 12.9 million metric tons. 

 

Source: Business Standard