India’s imposition of a 12% safeguard duty on steel imports from China and Vietnam has led to a 21% decline in imports in April 2025. However, with imports still surpassing exports, India remains a net importer of steel.
Imports reached 0.46 million tonnes (mt), exceeding exports of 0.38 mt. Non-alloy steel imports saw the sharpest decline, while alloy and stainless steel imports remained flat. Export challenges persist due to global demand weakness and China’s aggressive export push.
Industry leaders anticipate a moderate price recovery in the coming months, driven by reduced imports and steady domestic demand. However, sluggish export markets continue to pose challenges for Indian steelmakers.