China, Japan and South Korea accounted for 79% of India’s total finished steel imports

New Delhi

India's finished steel imports from China reached an all-time high during the first eight months of the fiscal year to March 2025, provisional government data showed, adding to concerns among domestic mills about cheap shipments from China, Reuters reported.

Total imports of finished steel were at an eight-year high with India, the world's second-biggest crude steel producer, a net importer during the period.

India shipped in 6.5 million metric tons of finished steel, a 26.6% increase year-on-year, the data showed.

China sent 1.96 million metric tons of steel to India during April-November, up 22.8% year-on-year, the data showed.

According to the Reuters report, Beijing mainly exported stainless steel, hot-rolled coil, plates, electrical sheets, galvanized plain or corrugated sheets, pipes, bars and rods, among other grades.

Finished steel imports from Japan also reached at least a six-year high during April-November, with imports more than doubling to 1.4 million metric tons, according to the data. China, Japan and South Korea accounted for 79% of India's total finished steel imports during the period.

Hot-rolled coils were the most imported steel product during the period, while bars and rods topped imports in the non-flat product category.

New Delhi has launched a probe to determine whether to impose a safeguard duty - a temporary tax - of up to 25% to curb unbridled steel imports.

India became a net steel importer in the financial year that ended in March 2024, and imports have steadily increased since then.

The flood of cheap Chinese steel has pushed India's smaller mills to scale down operations and consider job cuts, as New Delhi joins a growing list of countries contemplating measures to curb imports.