May 23, 2025

India's steel imports have witnessed an 11% decline, down to 0.52 million tonnes in April. This drop can be attributed to the imposition of safeguard duties on shipments from China and Vietnam, as well as reduced imports from Japan. The stringent duties have successfully curbed the influx of steel products from these countries, protecting the domestic steel market. The decline in imports indicates a positive development for the Indian steel industry, as local manufacturers are likely to benefit from lower foreign competition. Additionally, the decreased imports from Japan suggest a broader trend of reduced international trade in the steel sector. Industry experts are closely monitoring these shifts to assess the long-term implications on India's steel market.

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Tags: Safeguard duties, Imports, Steel, China, Vietnam, Japan,