+
India’s Finished Steel Imports Hit Record High from China and Japan
Steel

India’s Finished Steel Imports Hit Record High from China and Japan

India's finished steel imports from China, South Korea, and Japan soared to a record high in the first ten months of the financial year 2024–25, according to provisional government data accessed by Reuters.

As the world’s second-largest crude steel producer, India witnessed surging finished steel shipments during April–January, making it a net importer of steel during the period.

Surging Steel Imports from Key Asian Exporters South Korea emerged as India’s largest steel supplier, with imports rising 11.7% year-on-year to 2.4 million metric tons. China followed closely, exporting 2.3 million metric tons, marking a 3.4% year-on-year increase. Japan recorded the most significant surge, with shipments jumping 88.6% year-on-year to 1.8 million metric tons. Indonesia also saw a sharp rise, with steel exports to India tripling to 0.3 million metric tons. Collectively, China, South Korea, and Japan accounted for 78% of India’s total finished steel imports.

India Considers Protectionist Measures Amid Rising Imports In response to rising steel imports, India's Steel Ministry has urged the Ministry of Finance to double the basic customs duty on imported finished steel products from 7.5% to 15% in the upcoming Union Budget 2025–26.

Additionally, in December 2024, the government launched an investigation to assess the need for a safeguard duty or temporary tax to curb uncontrolled steel imports.

Last month, Steel Minister H.D. Kumaraswamy hinted at the possibility of imposing a safeguard duty of 15% to 25% on steel imports to protect domestic manufacturers from excessive foreign inflows.

Steel Exports Plummet to a Seven-Year Low While imports surged, India’s finished steel exports plummeted to their lowest levels in at least seven years during April–January.

Exports to Italy, India’s largest export destination, nearly halved. Shipments to Belgium, Nepal, and Spain also declined significantly. The rising steel imports, coupled with weakening exports, raise concerns over domestic industry competitiveness, price stability, and India’s steel trade balance.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

India's finished steel imports from China, South Korea, and Japan soared to a record high in the first ten months of the financial year 2024–25, according to provisional government data accessed by Reuters. As the world’s second-largest crude steel producer, India witnessed surging finished steel shipments during April–January, making it a net importer of steel during the period. Surging Steel Imports from Key Asian Exporters South Korea emerged as India’s largest steel supplier, with imports rising 11.7% year-on-year to 2.4 million metric tons. China followed closely, exporting 2.3 million metric tons, marking a 3.4% year-on-year increase. Japan recorded the most significant surge, with shipments jumping 88.6% year-on-year to 1.8 million metric tons. Indonesia also saw a sharp rise, with steel exports to India tripling to 0.3 million metric tons. Collectively, China, South Korea, and Japan accounted for 78% of India’s total finished steel imports. India Considers Protectionist Measures Amid Rising Imports In response to rising steel imports, India's Steel Ministry has urged the Ministry of Finance to double the basic customs duty on imported finished steel products from 7.5% to 15% in the upcoming Union Budget 2025–26. Additionally, in December 2024, the government launched an investigation to assess the need for a safeguard duty or temporary tax to curb uncontrolled steel imports. Last month, Steel Minister H.D. Kumaraswamy hinted at the possibility of imposing a safeguard duty of 15% to 25% on steel imports to protect domestic manufacturers from excessive foreign inflows. Steel Exports Plummet to a Seven-Year Low While imports surged, India’s finished steel exports plummeted to their lowest levels in at least seven years during April–January. Exports to Italy, India’s largest export destination, nearly halved. Shipments to Belgium, Nepal, and Spain also declined significantly. The rising steel imports, coupled with weakening exports, raise concerns over domestic industry competitiveness, price stability, and India’s steel trade balance.

Next Story
Real Estate

Mumbai Records 11,230 Property Deals in August 2025

Mumbai’s property market remained resilient in August 2025, with 11,230 property registrations recorded under the Brihanmumbai Municipal Corporation (BMC) jurisdiction, according to data released by Knight Frank India. While this marks a 3 per cent year-on-year (YoY) decline compared to 11,631 registrations in August 2024, activity stayed robust despite the marginal dip.On a month-on-month (MoM) basis, registrations fell 11 per cent from 12,579 deals in July 2025, indicating seasonal moderation. However, the city’s stamp duty collections still reached Rs 10 billion, reflecting a 6 per cent..

Next Story
Infrastructure Transport

68 Jammu-Katra Trains Cancelled Amid Rain Damage

Jammu and Katra railway services remain severely affected as Northern Railway announced the cancellation of 68 trains—both incoming and outgoing—until 30 September, due to extensive track damage caused by heavy rains and flash floods. Meanwhile, 24 trains are scheduled to resume operations gradually.The Jammu railway division has experienced a complete halt in services for the past eight days, following track misalignment and breaches at several points along the Pathankot–Jammu section. Torrential rainfall since 26 August led to widespread flooding and damage, stranding hundreds of passe..

Next Story
Infrastructure Transport

Bangalore Metro MD Reviews Reach 6 and Phase 2A Progress

Bangalore Metro Rail Corporation Limited (BMRCL) Managing Director, Dr J Ravishankar, IAS, conducted inspections of key metro corridors on 29 and 30 August, reviewing the progress of Reach 6 (Pink Line) and Phase 2A (Blue Line).On 30 August, the inspection covered Reach 6, a 21.39-km corridor stretching from Kalena Agrahara to Nagawara, with 18 stations. This stretch is part of Phase 2 of the Bangalore Metro project. Dr Ravishankar assessed the status of civil works, finishing, track laying, and system integration between Kalena Agrahara and MG Road.Earlier, on 29 August, the MD inspected Phas..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?