India’s steel imports have significantly slowed, with Q1 FY26 imports falling by nearly 30% year-on-year to 1.4 million tons, compared to 2 million tons in the corresponding period a year ago. This decline was attributed to tightened safeguard duties and stricter quality controls.
In June alone, imports dropped to 430,000 tons, a 33% decrease from the same month last year. Meanwhile, domestic steel prices have become more competitive, now cheaper than imported Chinese steel by 2-3%.