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India became a net importer of finished steel products in August, marking its first trade deficit in two months. L320Q steel, According to an interim report released by the Joint Plant Council (JPC), imports exceeded exports by 140,000 tons that month, reversing July's net export trend of 31,000 tons. India's steel imports surged 47.2% month-on-month in August, while exports rose only 8.8%.
Local traders in Mumbai say that continued imports are squeezing market share for domestic steel mills, exacerbating the already oversupply situation. L320Q steel, The influx of imported resources is not only replacing demand that domestic production capacity could have met, but also further suppressing steel prices. If this trend continues, the market will remain under pressure in the short term.
In the first five months of this fiscal year (ending March 31, 2026), India has turned into a net importer of finished steel products, reversing its net exporter status during the period from April to July 2025. During April to July, due to strong performance in the European market, India's cumulative finished steel exports increased by 8% year-on-year to 1.7 million tons, while cumulative imports decreased by 39.6% year-on-year to 1.67 million tons, briefly achieving net exports.
India's steel imports have been somewhat constrained by its safeguard duty policy. L320Q steel, Since April 21st of this year, India has imposed a 12% safeguard duty on imported alloy and non-alloy steel flat products, valid for 200 days. Currently, the Directorate General of Trade Remedies (DGTR) has recommended that the safeguard duty be extended for another three years on these products.
Other market participants pointed out that despite tariff restrictions, many imported resources may enter the country through the pre-licensing mechanism, where they enjoy tariff exemptions. Some commodities, such as electrical steel, are also excluded from the safeguard measures. For example, the two recent shipments of Russian resources may have been pre-booked through this mechanism. Meanwhile, the Indian government is considering strengthening oversight of this channel, proposing to shorten the export obligation period from 18 months to 6 months.
In addition, the Indian Directorate General of Trade Remedies has recommended imposing anti-dumping duties on hot-rolled flat steel imported from Vietnam for a period of five years.
Despite changes in the trade landscape, India's domestic steel production continued its strong growth. In August, national crude steel output reached 13.83 million tons, up 11.1% year-on-year; finished steel output totaled 13.35 million tons, up 13% year-on-year.
