India's Finished Steel Imports Drop 11.3% In April, Exports Down 25.7%

(MENAFN- KNN India) New Delhi, May 23 (KNN) India's finished steel imports declined 11.3 percent year-on-year to 0.5 million metric tons in April 2025, while the country's steel exports also registered a significant decrease during the same period.

The world's second-largest crude steel producer continues to navigate challenges in global steel trade dynamics amid protective measures against cheap imports.

The country has maintained a 12 percent import duty on steel products to shield its domestic industry from dumping practices, particularly from Chinese manufacturers.

This protective measure reflects ongoing concerns about unfair trade practices affecting India's steel sector competitiveness.

China's contribution to India's steel imports totalled 0.1 million metric tons in April 2025, representing a 26.5 percent year-on-year decline.

Despite China's steel sector reporting strong overall profits and rising exports, the country's crude steel output unexpectedly fell 7 percent month-on-month in April, contrary to analyst growth projections.

Japan experienced a more dramatic reduction in steel exports to India, with finished steel shipments dropping 60 percent year-on-year to 85,600 metric tons in April.

This substantial decline highlights shifting trade patterns in the Asian steel market.

South Korea maintained its position as India's largest finished steel supplier, exporting 0.15 million metric tons in April while recording a modest 2.4 percent year-on-year increase.

This growth contrasts with the declining trends observed from other major suppliers in the region.

European nations demonstrated remarkable growth in steel exports to India during April.

Germany's finished steel exports to India surged five-fold year-on-year to 36,600 metric tons, while France achieved a ten-fold increase to 30,300 metric tons.

These European shipments primarily consisted of steel plates used in heavy machinery manufacturing, construction, and transportation sectors.

On the export front, India produced 12.4 million metric tons of finished steel in April and exported 0.4 million metric tons, marking a 25.7 percent year-on-year decline in outbound shipments.

The country's traditional European export markets showed reduced demand, with Italy importing 60.4 percent less Indian finished steel year-on-year in April, while Belgium's imports from India decreased by 6 percent during the same period.

The mixed performance in India's steel trade reflects broader global market conditions and trade policy adjustments as the industry adapts to evolving supply chain dynamics and protective measures implemented by various nations.

(KNN Bureau)

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