Steel import volumes rose sharply in April as domestic demand outpaced export activity, marking a period when India imported more steel than it exported for the first time in recent months.
Flat steel shipments from overseas suppliers filled gaps as construction and manufacturing orders accelerated ahead of monsoon building seasons in several states.
Domestic mills increased output but could not fully satisfy appetite for certain grades used in automotive and appliance segments reliant on imported substrate.
Trade data analysts noted that inbound surge may pressure local producers’ pricing power unless anti-dumping duties or quality certification barriers adjust flows.
Infrastructure project pipelines under the national capex push sustained rebar and coil demand, drawing traders to book foreign cargoes when domestic lead times lengthened.
Export weakness reflected softer international prices and tariff barriers in key markets, redirecting Indian mill capacity toward home consumption.
Currency movements and freight rates from East Asian suppliers influenced landed cost competitiveness versus Indian mill offers.
Industry associations may petition commerce authorities for trade remedial measures if import spikes persist beyond a single month.
Stockists in Mumbai and Kolkata ports reported higher berth occupancy for bulk carriers carrying hot-rolled coils.
Policy makers watch steel trade balances as indicators of industrial momentum and potential need for capacity expansion investments.
Created by Ayen Stabel.
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Sources:
https://www.business-standard.com/economy