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In the first quarter BV/F460 steel of the fiscal year 2025/26 (April June 2025), India's imports of finished steel products showed a significant decline, mainly due to measures taken by the government to restrict foreign steel inflows. During the same period, due to the decrease in domestic production and intensified competition in overseas markets, India's steel exports have also slowed down.
According to preliminary data from the Joint Factories Council (JPC) of India, the total import volume of finished steel products in India from April to June 2025 was 1.4 million tons, a year-on-year decrease of 27% and a month on month decrease of 34%. This downward trend reflects the Indian government's recent strengthening of import controls, including the temporary imposition of a 12% safeguard tariff on steel plates. However, some domestic buyers continue to purchase panels from South Korea BV/F460 steel, Japan, and China through the Advance Licensing system. In addition, due to the attractive price, Indian buyers still ordered Russian hot coils last month even though they had to pay safeguard tariffs and import tariffs to Russia.
In the first quarter of fiscal year 25/26, India's steel exports were 1.2 million tons, a year-on-year decrease of 5% and a month on month decrease of 3%. Indian steel mills continue to prioritize supply due to favorable prices in the European market, but face fierce competition from Asian suppliers such as China, South Korea, Japan, Indonesia, and Malaysia in other traditional markets. It is worth noting that in June, which usually marks the beginning of the monsoon season, India's steel exports increased by 14% month on month, reaching 446000 tons.
According to local market participants, domestic steel demand in India gradually weakened in the first quarter. Global economic uncertainty, the onset of monsoon season, and tight liquidity are considered the main factors. At the same time, major steel mills in India have carried out maintenance and production shutdowns, avoiding significant export sales.
Faced with the rapid changes in global trade flows and the uncertainty of the US government's tariff policies, the Indian government continues to implement stricter measures to curb imports. In mid June, the government issued a directive requiring not only imported finished steel products to obtain certification from the Bureau of Indian Standards (BIS), but also semi-finished products and raw materials used to BV/F460 steel produce high value-added products to meet Indian quality standards. However, in order to alleviate the difficulties of customs clearance for goods that have already arrived at the port, the government has decided to temporarily postpone the implementation of this new regulation.
