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India’s finished steel imports fell sharply by 27.6% year-on-year in April–May 2025, reaching 0.9 million metric tonnes. The decline was driven by a sharp drop in shipments from China and Japan following the introduction of a 12% safeguard duty in April to curb low-cost imports.
Imports from China dropped 47.7%, while those from Japan fell by 65.6%. In contrast, South Korea emerged as the top supplier during the period, increasing shipments by 8.2% to 0.4 million tonnes. The three countries—China, Japan, and South Korea—accounted for nearly 75% of India’s total finished steel imports, with hot-rolled coils being the most imported product.
Despite the drop in imports, India remained a net importer of finished steel, as exports declined 18.1% to 0.8 million tonnes. Galvanized sheets and coils led outbound shipments, with Belgium being the largest export destination, posting a 12.4% rise. However, exports to Italy declined steeply by 53.7%.
Domestically, the steel sector showed strong growth. Crude steel production rose 9.5% to 26.9 million tonnes, and finished steel consumption increased 7.1% to 25.1 million tonnes, reflecting robust demand and manufacturing activity.
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