India's steel imports from China reach six-year high

This significant increase, which represents an increase of almost 50% over the previous year, has made China the leading supplier of steel to India.

Several factors contributed to this remarkable increase in steel imports from China. First, the low price trend prevailing in the market has emerged as an attractive incentive for Indian buyers. Second, the weakening of steel demand in Europe pushed Chinese steel producers to look for alternative markets, and India became the main target in this context. Third, Chinese steel products have gained more acceptance in the Indian market due to their affordability and quality.

When India's steel imports from China are examined in more detail, a remarkable trend emerges. While stainless steel imports from China account for the highest rate, this highlights India's increasing dependence on China, especially for this type of steel. Moreover, imports of hot rolled steel, cold rolled steel, galvanized steel and electrical steel from China constitute a significant portion of India's total steel imports.