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Chinese steel is cheaper by up to 12% than Indian steel in local markets.
Indian producers seek government intervention to prevent dumping.
Trade policy uncertainty is putting pressure on domestic pricing strategies.
Chinese steel is now selling up to 12% cheaper than Indian steel in the domestic market, raising alarms within India’s steel industry. Amid global tariff uncertainty and an ongoing overcapacity in China, Indian producers are struggling to maintain pricing power, especially in key segments like Hot Rolled Coils and Galvanized Steel.
The price disparity is reportedly driven by China's aggressive export strategy, supported by lower production costs and surplus availability. Chinese steel is being offered at rates ₹4,000–₹6,000/ton lower than Indian products, especially in southern and eastern ports.
Industry experts fear this may lead to increased imports and potentially harm domestic producers, especially SMEs. The absence of clear import safeguards or countervailing duties could exacerbate the situation. Indian manufacturers are calling on the government to closely monitor imports and take immediate corrective actions.
The situation is further complicated by geopolitical trade shifts and uncertainty around potential new tariffs globally, especially from the U.S. and EU. While India has taken steps to support local steelmakers, including scrap recycling and infrastructure pushes, competition from dumped steel could undercut these gains.
Also Read : China's export boom sparks concerns of global backlash China’s Steel Exports Rise 6.3% in Q1 2024 Amid Global Tariff Tensions
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