India remained a net steel importer in January–October 2025, even as total imports fell to around 8 million mt, a 15% year-on-year decline, according to BigMint data.
The drop follows the government’s 12% safeguard duty, which raised the landed cost of imported steel above domestic prices—for example, domestic HRC remained INR 7,500–8,000/mt cheaper than Chinese shipments in early October.
Import Trends
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Imports from China plunged over 50% y-o-y.
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Imports from South Korea fell 4%; Japan dropped 24%.
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Imports from Vietnam and other origins increased.
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Flat steel imports fell 27% to 5.45 million mt.
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Long steel imports declined 10% to about 1.3 million mt.
Additional pressure came from:
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New antidumping duties on HRC from multiple countries.
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Quality-control requirements (BIS standards) slowing Chinese approvals.
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Ongoing investigations into cold-rolled imports from China, Indonesia, and Vietnam.
Exports Mixed
India exported 8.9 million mt of steel in the first 10 months of 2025, nearly flat year-on-year.
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Exports to the EU fell 14% amid upcoming CBAM measures.
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Shipments to the UAE surged.
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Exports to the US rose as buyers front-loaded orders before new tariff rules.
Outlook
NITI Aayog’s recommendation to remove certain quality-control orders and ease import monitoring could support manufacturers through more cost-effective sourcing.
However, global protectionism, EU safeguard mechanisms, and weak global demand signal challenging export prospects heading into 2026.
VietnamSteel by Hoa Sen Group
