9,306.96 TRY BIST 100 BIST 100
43.49 EUR EUR EUR
38.44 USD USD USD
5.30 CNY CNY CNY
0.12 CNY CNY/EUR CNY/EUR
47.36 TRY Interest Interest
65.20 USD Fossil Oil Fossil Oil
40.76 USD Silver Silver
4.86 USD Copper Copper
98.44 USD Iron Ore Iron Ore
325.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,098.32 TRY Gold (gr) Gold (gr)

Delays in Japanese steel shipments in India cause trade disruptions

Japanese steel shipments in India are held up at ports due to lack of necessary certificates.

Delays in Japanese steel shipments in India cause trade disruptions

India is experiencing significant delays in shipments of Japanese steel. Steel exports from Japan to India are being held up at Indian ports due to the lack of the required No Objection Certificate (NOC). These delays are reportedly linked to the suspension of Quality Control Committee meetings from September 2024. As a result, Japanese companies are incurring high detention fees while their shipments are stranded at ports, disrupting trade.

Importers in India are making similar complaints, reporting that their steel containers have been waiting at ports for nearly two months. These delays have led to increasing pressure from large Indian steel producers to impose restrictions on steel imports because cheaper imports are negatively impacting their profitability. However, micro, small and medium-sized enterprises (MSMEs) have opposed these restrictions, arguing that domestic steel prices are high and they need cheaper imports to gain a competitive advantage.

In September 2024, India's total imports reached USD 60 billion, the highest in a year. Traders are demanding consistent and predictable policies, noting rising detention costs. Delays at ports cause serious financial losses, especially for smaller players, as these businesses struggle to cover transportation and storage costs.

India's trade data for FY2024 reveals a widening trade deficit in core steel products, but a trade surplus in finished steel products. Despite the decline in core steel exports, demand for products such as flat-rolled and special steels, especially those used in sectors such as defense and aerospace, has boosted imports. These developments highlight India's dependence on foreign steel to meet its advanced industrial needs.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

EUROFER and EUROMETAL join forces to support the European steel supply chain

Tuesday, April 29, 2025

Why Should You Attend Steel Summit 2025?

Tuesday, April 29, 2025

KARDEMİR increased its production in 2024, 2025 target is 2.5 million tons of sales

Tuesday, April 29, 2025

Egypt launches protective measures against hot-rolled flat steel imports

Monday, April 28, 2025

China captures Germany's share in EU markets

Monday, April 28, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now