India’s steel exports saw a strong year-on-year rise in April 2025, even as month-on-month figures showed slight softness. Here’s a quick snapshot of the developments:
Key Highlights:
- Total steel exports (including stainless steel) reached 725.54 thousand tons in April — up 11.7% YoY, but down 2.7% MoM.
- Exports to the EU surged by 33% MoM to over 358 thousand tons, the highest in 13 months, thanks to renewed EU import quotas.
- Shipments to the US and Saudi Arabia fell, as Indian producers redirected supplies to the EU and other regions.
- Flat steel products exports rose slightly to 556.5 thousand tons (+1% MoM), marking the highest since March 2024.
- Semi-finished steel exports climbed by 30% MoM to 78.64 thousand tons.
- Hot-rolled coil (non-stainless) exports dropped by 12% MoM, totaling 130.6 thousand tons.
- Long product exports plunged by 32% MoM to 90.4 thousand tons.
Market Dynamics:
- The EU import quota renewal in Q2 prompted Indian exporters to ramp up shipments to Europe
- US-bound exports face headwinds from steel tariffs, although Q1 shipments saw a temporary spike as buyers front-loaded purchases.
- China remains a dominant player, aggressively pricing its steel in global markets, influencing trade flows.
- India introduced a temporary 12% safeguard duty on select steel imports from April 21, 2025 for 200 days, aimed at protecting domestic manufacturers from import surges.