India increased steel exports by 12% y/y in April

India’s steel exports (including stainless steel) increased by 11.7% year-on-year – to 725.54 thousand tons in April this year. Compared to March, these volumes decreased by 2.7%, according to BigMint.

In April, the country reduced supplies to the United States and Saudi Arabia, but increased exports to the EU, reaching a 13-month high of more than 358 thousand tons (+33% m/m).

Total exports of flat products from India in the period amounted to 556.5 thousand tons (+1% m/m), the highest since March 2024. Shipments of semi-finished products increased by 30% month-on-month to 78.64 kt, while long products fell by 32% m/m – to 90.4 kt. All figures include stainless steel.

Exports of hot-rolled coils (excluding stainless steel) in April decreased by 12% compared to March, to 130.6 thousand tons.

Indian steel exports in April were affected by a number of factors. First, the EU import quota was renewed at the beginning of the new quarter. This led to a sharp increase in supplies to the bloc, as Indian producers redirected their products away from the Middle East due to low demand.

India’s exports to the US are also restricted by US steel tariffs. Overall, the impact of the duties on Indian steel supplies to this market is expected to be minimal, given that they are generally limited. However, in January-March, India shipped about 80 thousand tons of steel to the United States, compared to about 20 thousand tons in the previous months, probably because buyers increased their supplies in anticipation of the tariffs.

In addition, the global export market continues to be dominated by China, which continues to pursue its aggressive pricing strategy.

As GMK Center reported earlier, India recently imposed a temporary 12% safeguard duty on certain steel imports. It will be in effect for 200 days (from April 21, 2025), unless it is lifted, replaced or amended earlier. These measures are aimed at protecting the country’s steelmakers from the negative impact of a sharp increase in imports and will ensure fair competition in the market.