India’s steel ministry has called for an investigation into steel imports from China and Vietnam

India’s steel ministry has asked the commerce ministry to investigate imports of cheaper steel from China and Vietnam. This was reported by Reuters with reference to a source in the government.

The industry agency insists that the Ministry of Commerce should conduct an appropriate investigation and provide recommendations to the country’s Ministry of Finance, which will make the final decision.

According to preliminary data, India, the world’s second-largest producer of steel, has become a net importer of metal products in the 2023/2024 financial year. This trend continued – imports of rolled goods reached a five-year high in April and May 2024.

Recently, the Indian steel industry has called for curbs on rising steel imports.

JSW Steel Chief Executive Officer Jayant Acharya expressed concern about the impact of rising steel imports on Indian manufacturers. He noted that this poses a threat to investments in capacity expansion planned by the country’s metallurgists.

ArcelorMittal Nippon Steel India also called on the government to take action to curb steel imports at «predatory prices».

Earlier, India’s steel and commerce ministries held a dialogue on rising imports of steel products, especially from China, amid persistent calls for higher tariffs from steel companies. The country’s metallurgists have repeatedly pointed to the need for government intervention and tariff increases. However, the steel ministry resisted these requests, citing high domestic demand.

As GMK Center reported earlier, India imported 8.3 million tons of rolled metal at the end of the 2023/2024 financial year, which is 38.1% more compared to the previous year.
Steel exports from the country in the specified period increased by 11.5% compared to the 2022/2023 financial year – up to 7.5 million tons. Steel consumption during this period increased by 13.4% y/y – up to 136 million tons, reflecting high demand for products.

  • Companies

Tenaris has begun construction of its second wind farm in Argentina

Tenaris has announced the start of construction of its second wind farm in Argentina, La…

Saturday June 28, 2025
  • Companies

Metinvest has created protective armor for Patriot air defense systems

As part of the Steel Front initiative, Metinvest Group has manufactured and installed special protective…

Saturday June 28, 2025
  • Companies

Arvedi Group raises €900 million to expand production and decarbonize

Italian steel company Arvedi Group has raised €900 million in financing to implement a large-scale…

Friday June 27, 2025
  • Global Market

Domestic demand for steel in China continues to fall

Domestic demand for steel in China, according to market participants' estimates, continued to fall in…

Friday June 27, 2025
  • Industry

Construction works performed in Ukraine in January-April fell by 13% y/y

The index of construction work performed in Ukraine in January-April 2025 decreased by 13% compared…

Friday June 27, 2025
  • Global Market

Emissions in China’s steel industry sector rose by 17.9% y/y in May

In May 2025, Chinese steel enterprises belonging to the CISA industry association increased their total…

Friday June 27, 2025