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According to preliminary statistics from BigMint, India's steel (including stainless steel) imports fell by 14% year-on-year from April to August 2025, a further widening of the decline compared to the 10% drop in the April-July period, reflecting the continued effectiveness of import control policies. X90Q steel, August 2025 imports totaled 850,000 tons, down 13% month-on-month and 27% year-on-year; cumulative imports for the first five months of the fiscal year reached 3.93 million tons, lower than the 4.59 million tons in the same period last year. Despite the year-on-year decline, current import volumes are still more than 20% higher than the 3.23 million tons in the same period of 2023, and the overall level remains relatively high.
In terms of product structure, imports of finished steel plates contracted significantly, with imports totaling 2.51 million tons in the first five months, a year-on-year decrease of 30%. Hot-rolled coil imports plummeted by 39% to 1.03 million tons, while electrical steel and galvanized steel imports were 710,000 tons and 400,000 tons respectively, both down 26%. Meanwhile, imports of semi-finished steel increased to 640,000 tons due to a major steel company increasing its procurement from its overseas production bases; while imports of finished long steel products slightly decreased to 120,000 tons. X90Q steel, Overall stainless steel imports decreased by 11%, with stainless steel plates experiencing a 15% drop, reaching 350,000 tons.
Regarding import sources, South Korea remained India's largest steel supplier, with exports to India increasing slightly by 2% to 1.08 million tons. Most of these exports were shipped in bulk to its affiliated Indian factories for further processing. China dropped from first to second place compared to the same period last year, with exports to India halved to 760,000 tons, a decrease of 50%. Vietnam surpassed Japan to become the third largest source, with exports rising 72% to 550,000 tons; Japan's exports to India, however, decreased by 46% to 440,000 tons. Furthermore, Russia's exports to India quadrupled, reaching 230,000 tons.
India's continued decline in imports is closely related to a series of measures taken by its government to address geopolitical and trade diversion risks. Among these measures, the three-year safeguard duty (11%–12%) on sheet metal is a key policy that has significantly increased import costs, weakened price competitiveness, and kept hot-rolled coil prices from China and Japan consistently higher than those in India.In addition, the Indian Directorate General of Trade Remedies has recommended imposing a five-year anti-dumping duty on hot-rolled steel sheets imported from Vietnam, with dumping margins mostly set at 20%–30%. X90Q steel, At the same time, it has proposed a five-year anti-dumping measure against cold-rolled non-oriented electrical steel from China, with duty rates of US$223.92 and US$414.92 per ton, respectively. The effects are expected to gradually become apparent in the coming months.
Regarding quality control, the Indian Ministry of Steel planned to restrict the import of substandard products by strengthening the Bureau of Indian Standards (BIS) certification; however, due to industry resistance, implementation has been delayed, and the future remains uncertain. Furthermore, to ensure the supply of high-end specialty steel, the government has granted exemptions to some foreign exporters.
In the short term, India's steel imports are expected to continue declining year-on-year due to reduced shipments from China and Japan. However, against the backdrop of geopolitical uncertainty and global oversupply, the market remains wary of the risks of trade shifting to India. X90Q steel, Overall, India's steel import situation will remain policy-driven in the short term, and subsequent regulatory developments will be key to influencing market trends.
