Category: Import

Indian steelmakers are requesting a minimum import price from the Government as current safeguard duties prove insufficient amidst falling global prices. Industry executives report that hot rolled coils are trading significantly lower than expected, impacting profit margins. Analysts suggest a balanced approach, considering consumer prices and anticipating stable raw material costs and subdued global demand. […]

India may implement a temporary 15%-25% tax on Chinese steel imports within six months to protect domestic manufacturers from cheap imports. The investigation to safeguard duties began in December and could last up to two years, aiming to ensure fair competition amidst rising imports from China. India could impose a temporary tax of 15%-25% on […]

India’s finished steel imports from China touched their highest levels in at least seven years during the first nine months of the financial year that began in April, according to provisional Government data reviewed by Reuters on Monday. China, the world’s top steel producer, shipped 2.1 million metric tons of finished steel to India during […]

China is now India’s top import source with USD 56.29 billion in shipments from April to September this fiscal. The US is the leading export destination, with goods worth USD 40.38 billion. Imports from Russia, the UAE, and other countries also increased. The US remains India’s largest trading partner, followed by China. China has emerged […]

Incentives have resulted in production worth about Rs 11 trillion ($131.6 billion) and nearly one million jobs over four years. India’s cash incentives to boost domestic manufacturing have attracted over $17 billion of investment since 2020 launch of the production-linked scheme, a Government official said, amid efforts to reduce imports from China. The scheme, which […]

India’s finished steel imports from China reached a seven-year high in the first five months of the 2024/25 financial year, according to provisional Government data. Overall imports hit a six-year high at 3.7 million metric tons, driven by strong demand from infrastructure and automotive sectors. Domestic consumption also surged, while exports declined.  India’s overall finished […]

The hot-rolled coil prices dipped to their lowest in the last four years to ₹47,100 per ton this month. Indian steel makers have dropped steel prices to protect their market share against rising imports. The hot-rolled coil prices dipped to their lowest in the last four years to ₹47,100 per ton this month after falling 5% compared […]