Steel Imports

Steel and steel-linked companies are gearing up to mobilise around Rs 4,000 crore through IPOs over the next 12-18 months, buoyed by the government's decision to impose a three-year safeguard duty on select flat steel imports, merchant bankers said. The policy intervention follows a muted year for steel IPOs in 2025, when only a few mainboard listings came to market and several issues struggled to sustain post-listing performance. The safeguard duty, effective April 21, 2025, is expected to improve near-term pricing visibility for domestic producers by raising the landed cost of imports and reducing price undercutting. According to industry insiders, the policy intervention is bound to help revive several fundraising plans that were earlier deferred amid weak equity sentiment, softer demand and sustained import pressure. "Safeguard duty is expected to improve sector visibility and pricing discipline, which can help restore investor confidence. At the same time, companies that are

The Centre has converted the provisional safeguard duty on steel into a three-year levy of up to 12 per cent to curb cheap imports, mainly from China and other exporting nations

The levy, locally known as a safeguard duty, will be imposed at 12 per cent in the first year followed by ​11.5 per cent in the second year and then 11 per cent in the third year

India has imposed a five-year anti-dumping duty on China's cold-rolled electrical steel after a DGTR probe found low-priced imports were hurting domestic manufacturers and squeezing profitability

Jindal Stainless MD says anti-dumping plea filed against China-Vietnam-Indonesia as imports rise

The Indian government had in April imposed a 12 per cent temporary tariff for 200 days that lapsed earlier this month

India, the world's second-biggest crude steel producer, imported 3.8 million metric tons of finished steel during April-October and was a net importer of the alloy, the data showed

The Steel Ministry has eased import procedures by removing NOC requirements for non-QCO grades, extending multiple exemptions to March 2026 and launching SARAL SIMS to simplify registration for MSMEs

Move will curb unfair trade practices and safeguard national capacity, says Jindal

EU urged to recognise domestic carbon costs as CBAM nears; SIMS easing and policy changes underway

Steel makers have urged the government for more measures to check rising imports from select group of countries including China which has produced 746.3 MT of crude steel in January-September period, over six-fold of the domestic output. As per global body World Steel Association (worldsteel), India has produced 122.4 MT of crude steel in January-September. While in September alone China has produced 73.5 MT of crude steel, over 5-fold higher from 13.6 MT of domestic production. As per market data, stainless steel is also unable to reach 100 per cent capacity utilisation of the total installed capacity of 7.5 million tonnes. It remains around 60 per cent only due to impact of imports. The government has taken several measures to curb the imports to protect the competitiveness of domestic steel industry. Over the past few years, the Ministry of Steel has come up with more than 100 quality control orders (QCOs) which refrain from non-BIS compliant steel products to enter the Indian .

Indian steel producers are raising concerns over subsidised imports from China, Vietnam and South Korea, saying low-priced inflows are dragging domestic prices

Domestic steel prices have slumped to a five-year low, trading in the range of Rs 47,000-?48,000 per tonne impacted by multiple factors, including surging imports, as per market data from BigMint. Hot rolled coil (HRC) prices are hovering around Rs 47,150 per tonne, while re-bar (TMT) is quoted in the range of Rs 46,500-47,000 per tonne in the wholesale market. The last time prices were at such levels was in 2020, when HRC was trading at Rs 46,000/tonne levels and rebar at Rs 45,000/tonne amid the pandemic slowdown. The current decline is largely attributed to weak export demand, rising imports, and an oversupply in the global market. India's steel exports have fallen sharply, pressured by aggressive export pushes from countries like China, while imports are still active, despite several measures introduced by the government. Falling prices amid rising imports is a matter of concern as inbound shipments are increasing despite several measures introduced by the government. Taking

India's steel imports rose 22 per cent in 2023-24 due to cheaper global prices, but growth slowed in the second half of 2024-25 after safeguard duties were imposed to curb dumping

The EU's plan to halve import quotas and impose a 50 per cent tariff, combined with CBAM rollout, could deliver a double blow to Indian steelmakers next year

India exported 0.58 million metric tonnes of finished steel in September, up 47.6 per cent on the year, according to the data

Can the safeguard duty on steel be more than a safety net, and is it enough when other countries are also stepping up to protect their interests?

The commerce ministry's arm, DGTR, has recommended final imposition of a safeguard duty on imports of certain flat steel products for three years to protect domestic manufacturers from sudden jump in the inbound shipments. The duty was recommended by the directorate general of trade remedies (DGTR) in its final findings of a probe initiated on a complaint by the Indian Steel Association. Based on the preliminary findings, the government in April has already imposed a provisional 12 per cent safeguard duty for 200 days. Now in its final findings, the DGTR has concluded "that there is a recent, sudden, sharp and significant increase in imports of PUC (product under consideration) into India at the cumulative level as a result of unforeseen developments...and threaten to cause serious injury to the domestic industry/producers," the DGTR has said in a notification. It has recommended a 12 per cent duty in the first year, 11.5 per cent in the second, and 11 per cent in the third year.

India's steel ministry has delayed BIS certification rules on steel imports by four months, offering relief to importers facing compliance hurdles and protecting in-transit shipments from disruption

India was a net importer of finished steel during the period, with exports falling 18.1 per cent year-on-year to 0.8 million metric tonnes