India reduced its imports of rolled steel by 27.6% y/y in April-May

India reduced its imports of rolled steel by 27.6% year-on-year – to 0.9 million tons in the first two months of the 2025/2026 fiscal year (April-May), according to Reuters, citing preliminary government data.

South Korea was the largest exporter of rolled steel to India in April-May (+8.2% y/y, 0.4 million tons). Supplies from China during this period fell by 47.7% y/y to 0.2 million tons, and from Japan by 65.6% y/y to 0.1 million tons.

According to government data, steel imports from these three countries accounted for 74.4% of total rolled steel imports to India, with hot-rolled coils or strips being the most supplied.

India’s rolled steel exports in April-May decreased by 18.1% year-on-year – to 0.8 million tons. Belgium became the country’s largest export market during this period, with shipments to this country in the first two months of the fiscal year increasing by 12.4% year-on-year – to 0.15 million tons. On the other hand, Indian rolled steel exports to Italy fell by 53.7% year-on-year.

During April-May, rolled steel consumption in India reached 25.1 million tons (+7.1% year-on-year).

The Indian government’s recent protective measures on steel imports, including temporary protective duties and stricter oversight, are yielding results, said Steel Ministry Secretary Sandeep Pundrik. Thanks to them, the country could halve its steel imports by 2025.

At the same time, the government has not yet decided whether to introduce higher protective duties on imports of steel products above the current 12%. The final decision will depend on the results of an investigation by the Directorate-General for Trade, which is expected to be completed by August.