India’s steel imports drop 11% to 0.52 million tonnes in April

[ad_1]

Steel shipments from China saw a near 27 per cent decline to 1,02,700 tonnes,
| Photo Credit:
WOLFGANG RATTAY

The country’s finished steel imports saw an 11 per cent-odd decline in April to 0.52 million tonnes (mt), predominantly led by a fall in shipments from China and Japan; and all other Asian nations like Vietnam – which have been used for routing shipments of the metal from China. This was the first major month of yearly decline in imports, following imposition of safeguard duty; even though the steel trade deficit — difference between exports and imports — stood at nearly Rs 2216 crore, as per a report of the Steel Ministry, accessed by businessline.

Import in the year-ago period (April 2024) was 0.6 mt.

Finished steel imports for April was valued at ₹5,301 crore ($620 million), and include non-alloyed offerings, alloyed ones and stainless steel. Flat product shipments – the key item tapped – declined by over 13 per cent to 0.5 mt.

Total steel imports saw a near 4 per cent decline too to 0.64 mt, as against 0.7 mt in the year-ago-period.

For April, India was a net importer of the metal. Exports stood at 0.4 mt, down 26 per cent, y-o-y; and was valued at ₹3,084 crore. ($361 million).

In terms of price, the Steel Ministry, in its report mentioned, domestic rebar prices moved up month-on-month as both bids and offers strengthened amid improving market sentiment and hot rolled coil prices edged higher, “amid a wave of bullish sentiment triggered by the government’s recent imposition of a safeguard duty on flat steel products”.

Fall in Chinese shipments

Incidentally, steel shipments from China saw a near 27 per cent decline to 1,02,700 tonnes, as against 1,39,800 tonnes in the year-ago-period. In value terms, shipments declined by nearly 42 per cent to $109 million from $187.3 million in the same month last fiscal.

Imports from Japan also witnessed a sharp decline. Steel volume dropped to 85,600 tonnes, down 60 per cent from 2,13,500 tonnes in April last year. In value terms, alloy shipments declined by nearly 30 per cent y-o-y to $117.5 million in April 2025 as against $167.2 million in the year-ago-period.

Korea was India’s top supplier with 154,000 tonnes of the metal coming in (150,400 tonnes), up 2 per cent-odd y-o-y; and valued at $135 million ($126.5 million), up 6.7 per cent, y-o-y.

There was just 13,000 tonnes of import from Vietnam (primarily in stainless steel category); a significant decline over April last year. Import from Indonesia was just 1100 tonnes, practically insignificant.

Incidentally, France and Germany saw some jump in imports – up 905 per cent and 485 per cent y-o-y to 30,300 tonnes and 30,600 tonnes.

Exports outlook

Traditional European markets of Spain saw a 121 per cent jump in export shipments to 46900 tonnes; while Italy and Belgium saw 60 per cent and 6 per cent decline y-o-y to 50,200 tonnes (126,700 tonnes) and 83,800 tonnes (89200 tonnes), respectively.

Nepal and UAE saw an increase too – of 110 per cent to 47,800 tonnes and 3.6 per cent to 27,700 tonnes.