New Delhi: India’s finished steel imports from China reached an all-time high during the first eight months of the fiscal year to March 2025. As per data released by the Union government, total imports of finished steel were at an eight-year high.
India shipped in 6.5 million metric tons of finished steel, a 26.6% increase year-on-year. China sent 1.96 million metric tons of steel to India during April-November. This is up 22.8% year-on-year.
China mainly exported stainless steel, hot-rolled coil, plates, electrical sheets, galvanized plain or corrugated sheets, pipes, bars and rods, among other grades.
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Finished steel imports from Japan also reached at least a six-year high during April-November, with imports more than doubling to 1.4 million metric tons. China, Japan and South Korea accounted for 79% of India’s total finished steel imports during the period.
Hot-rolled coils were the most imported steel product during the period, while bars and rods topped imports in the non-flat product category.
India is the world’s second-biggest crude steel producer. India became a net steel importer in the financial year that ended in March 2024, and imports have steadily increased since then. Finished steel exports during April-November fell to an eight-year low.
Italy was the largest export market for India’s finished steel, but shipments fell 31.8% year-on-year. Finished steel exports to Britain and Belgium rose by 16% and 6.9% respectively.
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