In November, South Korea, China and Japan were among the three largest exporters of hot rolled products in India, delivering 119,701 tons, 491.85 tons and 43,138 tons, respectively. In addition, imports from South Korea fell 49 percent year-on-year, while shipments from China decreased by 70.71 percent, and shipments from Japan decreased by 56.12 percent over the same period.
The monthly decrease in imports of HRC reflects the caution of the market after the expiration on November 7 of the temporary 200-day special duty on flat steel products.
Key Industry Highlights
Final recommendation on protective duty: The Directorate General of Trade Remedies (DGTR) of India presented its final findings, recommending the introduction of a three-year phased protective duty on imports of certain types of flat steel products (including HRC), starting at 12 percent in the first year, decreasing to 11.5 percent and 11 percent thereafter. The final implementation is expected in the official bulletin of the Ministry of Finance.
The validity period of the temporary tariff expires: The temporary 12 percent tariff imposed in April 2025 on all steel imports and effective for 200 days expired in November, complicating the immediate trade situation as the market awaits official notification of a new three-year safeguard measure.
Year-on-year export volume growth
As for exports, India's bulk reinforced concrete exports increased sharply by 136 percent year-on-year in November to 373,986 tons, compared with about 158,596 tons in November 2024. This marks a significant rebound compared to last year, driven by sustained global demand, especially from the European Union (EU) ahead of the introduction of the Carbon Boundary Regulation Mechanism. (CBAM).
However, export volumes decreased by 16 percent month-on-month compared to 442,393 tons shipped in October. The high October volume is due to aggressive distribution and steady
