India’s imports of rolled steel dropped significantly by 27.6% year-on-year in the first two months of the 2025–2026 fiscal year, reaching just 0.9 million tons, according to preliminary government data cited by Reuters. South Korea emerged as the top exporter during this period, increasing shipments by 8.2% to 0.4 million tons. Meanwhile, imports from China and Japan fell sharply—by 47.7% and 65.6% respectively—contributing to a combined 74.4% share in total imports of rolled steel, mainly hot-rolled coils or strips.
On the export front, India recorded an 18.1% decline year-on-year, with outbound shipments falling to 0.8 million tons. Belgium became India's leading export destination with a 12.4% rise in imports, while exports to Italy halved. Despite the drop in foreign trade, domestic rolled steel consumption rose by 7.1% to 25.1 million tons during April and May.
Steel Ministry Secretary Sandeep Pundrik credited the decline in imports to the government’s protective trade measures, including temporary duties and tighter monitoring, which he said could potentially reduce steel imports by half by 2025. A decision on raising the current 12% import duty is expected after an ongoing investigation concludes in August.
