[SMM Express] India Remains Net Steel Importer Despite 15% Drop in Shipments

Published: Nov 24, 2025 16:30

Save

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

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
• Imports from China plunged over 50% y-o-y.
• Imports from South Korea fell 4%; Japan dropped 24%.
• Imports from Vietnam and other origins increased.
• Flat steel imports fell 27% to 5.45 million mt.
• Long steel imports declined 10% to about 1.3 million mt.
• China, Indonesia, and Vietnam.

India exported 8.9 million mt of steel in the first 10 months of 2025, nearly flat year-on-year.
• Exports to the EU fell 14% amid upcoming CBAM measures.
• Shipments to the UAE surged.
• Exports to the US rose as buyers front-loaded orders before new tariff rules.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

[SMM Steel] SMS Group wins SAIL Durgapur billet caster modernization project

[SMM Steel] Germany’s SMS Group secured a contract from India’s SAIL to modernize billet casters at the Durgapur Steel Plant. The upgrade of two six-strand casters is expected to boost production capacity by over 60% and introduce a 150 mm × 150 mm billet section to support downstream rebar and wire rod production. The project will be implemented in two phases, with commissioning planned for Q4 2027 and Q3 2028.

7 hours ago

[SMM Steel] US drawn wire exports rise 12.5% MoM in January 2026

[SMM Steel] US drawn wire exports totaled 6,737 mt in January 2026, up 12.5% MoM but down 15% YoY, according to the US Department of Commerce. Canada remained the top destination with 2,831 mt, followed by Mexico at 2,702 mt, while export value reached $18.1 million.

7 hours ago

[SMM Steel] Eurofer urges EU to act fast as global steel overcapacity hits record 2.4 billion mt

[SMM Steel] On March 25, 2026, the European Steel Association (Eurofer) issued a stark warning following the release of the latest OECD data, labeling global steel overcapacity an "existential threat" to European steelmaking, investment, and jobs. The data reveals that global steelmaking capacity has climbed to a record 2.4 billion mt, with excess capacity reaching 640 million mt in 2025—exceeding total OECD production by over 200 million mt. Eurofer Director-General Axel Eggert is calling for the immediate adoption of a robust tariff-rate quota (TRQ) system to shield the EU market from trade diversion and stabilize the domestic industry before current measures expire

7 hours ago