Mô tả

Reuters, citing preliminary figures from the Indian government, reported that China exported approximately 232,000 tonnes of finished steel to India in April. This figure makes China the largest exporter of steel to India.

This situation occurred even as India – the world's second-largest producer of crude steel – imposed import duties on certain types of steel from December for a period of three years, a measure that initially began to curb the rate of imports from China.

The data also indicated that the majority of finished steel products imported from China into India were hot-rolled coils, followed by stainless steel products. While hot-rolled coils were subject to import duties, stainless steel products were exempt.

Tarun Khulbe, CEO of Jindal Stainless, told Reuters that the influx of cheap stainless steel from China is posing a significant challenge to the domestic industry.

He added that a significant amount of imports are being routed through countries like Vietnam – a member of the Association of Southeast Asian Nations (ASEAN) with which India has a free trade agreement.

According to the same data, Vietnam was among the top five exporters of finished steel to India in April, with exports increasing more than fourfold to 59,000 tons.

"Such imports are distorting fair market practices, impacting investment flows into the industry, and harming India's long-term manufacturing competitiveness," Khulbe stated.

The head of a large private steel company said buyers are attracted to Chinese steel because it is cheaper, ranging from $11 to $37 per ton of hot-rolled steel compared to domestic prices.

A senior executive at another major steel company added that part of the hot-rolled coil steel flooding into India is backlog shipments unable to reach Middle Eastern ports due to the Iran war.

According to commodity consulting firm BigMint, steel imports from China are expected to continue to increase in May.

India became a net importer of steel in April, a complete reversal from previous months when imports had decreased thanks to tariff measures. In the 2025/2026 fiscal year, China's steel exports to India decreased by 39.4% to 1.5 million tons compared to the previous year, and India became a net exporter of steel.

Business executives say that demand for steel in India is surging from infrastructure and automotive manufacturing sectors as one of the world's fastest-growing economies continues to expand, driving up import volumes. Finished steel consumption in April reached 13 million tonnes, up 8.2% year-on-year.

Source: H.Mĩ (According to Reuters) - Business and enterprises