JSW Steel has raised concerns over elevated Chinese steel exports, cautioning that while import bookings have not surged, the industry must remain watchful. The company’s Joint Managing Director and CEO, Jayant Acharya, emphasized the need for close monitoring of imports, particularly from Free Trade Agreement (FTA) partner nations such as Vietnam, Japan, and Korea.
Key Concerns & Industry Impact
- Chinese Steel Exports: Despite no immediate surge in imports, Chinese steel exports remain at high levels, posing a potential risk to Indian manufacturers.
- FTA Imports: Steel shipments from Vietnam, Japan, and Korea could impact domestic producers, requiring continuous vigilance.
- Government Safeguard Measures: India has imposed a 12% provisional safeguard duty on flat steel products since April 21, 2025, to protect local manufacturers.
Market Trends & Policy Response
India remains a net importer of steel for the second consecutive year, with imports rising 9.2% YoY to 10.5 million tonnes, while exports declined sharply by 27% to 6.3 million tonnes. Authorities are reviewing safeguard duties, ensuring appropriate action if import levels surge.
Future Outlook
JSW Steel, with an annual production capacity of 35 million tonnes, continues to advocate for stronger trade protections. The company urges policymakers to closely monitor import trends and take necessary steps to safeguard the domestic steel industry.
