07-Nov-2024
Key Highlights:
Steel is one of the most important building materials and an essential part of infrastructure. A range of manufacturing procedures are also supported by it. It is essential to international R&D projects and creates opportunities for innovative solutions in other sectors.
India imports a lot of steel since it is a thriving location for investment, infrastructure, and manufacturing.
In this blog, we will discuss the data on steel imports in India, importers of steel in India, and more. Furthermore, this blog will explain steel imports by country and steel HS codes.
India is the world's second-biggest consumer of finished steel. India consumed 119.89 million metric tonnes (MT) of steel in 2022–2023, or 86.7 kg per capita. In the upcoming years, India's consumption of finished steel is anticipated to rise as a result of several measures, such as
The global steel market is expected to increase at a compound annual growth rate (CAGR) of 3.8% from its 2024 valuation of USD 16.24 billion to USD 27.84 billion in 2025 and USD 53.48 billion by 2033.
The steel market had a volume of 123 million metric tonnes and a valuation of USD 187.2 billion.
India's steel demand is predicted to increase by 240 million to 260 million metric tonnes by 2035, a compound annual growth rate (CAGR) of about 6% from 2023 due to economic activity and urbanisation.
Growing infrastructure development and building projects, especially in emerging nations, are predicted to drive up global steel demand.
The total Indian steel imports have been increasing, reaching 8.320 metric tonnes in April-March 2023-24, up 38.2%.
Stainless steel and steel scrap import in India is done in large quantities, but it is still far away from being one of the top 10 steel importing countries.
From January to July 2024, China has overtaken South Korea as the top steel supplier to India, contributing 43% of the import of steel in India.
In April-March 2023-24, HR Coil/Strip accounted for 44% of the total, making it the most imported item.
Strong demand from the infrastructure and automotive sectors drove overall stainless steel import in India to a six-year high of 3.7 million metric tonnes.
India had a trade deficit of 1.1 million metric tonnes as a result of its net imports of steel exceeding its net exports. A surge in domestic demand led to a rise in Indian steel imports from China, South Korea, Japan, and Vietnam.
As per India steel import statistics, India imported 8.3 million metric tonnes (MT) of steel in FY24, up 38% annually, while exporting 7.4 MT, up 12%. A Steel Ministry report states that India imported roughly 1 MT net. Get updated steel imports in India from our data-driven platform today.
These nations that are the main sources of import of steel in India are
|
Top Rank |
Steel Imports by Country (Major Import Destinations) |
Steel Import Data (million metric tonnes) |
|
1 |
China |
2.7 MT |
|
2 |
South Korea |
2.6 MT |
|
3 |
Japan |
1.3 MT |
|
4 |
Russia |
0.4 MT |
|
5 |
Indonesia |
0.3 MT |
Indian steel imports in many forms, including:
Based on India steel import statistics, here is a table for updated HS codes for steel.
|
Steel HS Codes |
Production Description |
|
7326 |
Other Articles of Iron or Steel |
|
73261100 |
Grinding balls and similar articles for mills |
|
732619 |
Other |
|
73261910 |
For automobiles and earthmoving moving equipment |
|
732620 |
Articles of iron or steel wire |
Here are the top steel HS codes. For more detailed list of HS codes of steel and data on steel imports by country, explore steel import data at Exportimportdata.in
Here is a quick rundown of some of the top global importers of steel:
|
Rank |
Top 10 Steel Importing Countries |
Import Quantity in metric tonnes |
|
1 |
United States |
28.9 million |
|
2 |
Germany |
21 million |
|
3 |
Italy |
20.2 million |
|
4 |
Turkey |
17.4 million |
|
5 |
China |
17.1 million |
|
6 |
South korea |
13.7 million |
|
7 |
Thailand |
13.4 million |
|
8 |
Belgium |
12.5 million |
|
9 |
Poland |
12.2 million |
|
10 |
France |
12.0 million |
So as per data on steel imports by country, these are the top 10 steel importing countries, giving an idea of the industry's wide range of capabilities. Out of all, the United States is the largest importer of steel in the world. However, if you are looking for India steel import statistics, steel importer in India, or steel HS codes, explore our exclusive platform, Exportimportdata.in
Here is the list of steel importers in India:
With 51,431 shipments, Swatch Group India Pvt Ltd is the largest steel importer in India, accounting for 37% of the total. Ford India Private Ltd. comes in second with an 18% share of the total, or 25,528 shipments. Parker Hannifin India Private Limited is the third biggest steel importer in India, which accounts for 11,929 shipments, or 9% of the total. To get more details on all the top importers of steel of India, visit exportimportdata.in
Steel import data plays an important role for businesses that are engaging in steel imports in India. It provides all the details on the import of steel in India. Plus, it has a detailed list of active steel importers in India with past transaction values. You can have any information by exploring steel import data in no time.
Steel importers in India can strengthen their international market position by remaining up-to-date on global and Indian steel imports trends, India steel import statistics, and consumer preferences.
Thus, by providing you access to the steel hsn code, a list of steel imports in India, industry trends, and insights, Exportimportdata.in will assist you in growing your business in the global trade arena. Now, schedule a free live demo!
At Exportimportdata.in, our team of professionals is experts in providing the most accurate, systematic steel import data, enabling you to increase current trade flows and find advantageous market positions both domestically and internationally.
Exportimportdata.in is one of the best and most dependable providers of import-export data worldwide. They have years of training and expertise in data processing and mining, and they provide 100% real, trustworthy, and dependable customs shipment data for over 100 countries, including India, the USA, Russia, Mexico, Indonesia, Vietnam, and others.
Steel imports in India from Indonesia
Steel imports in India from South Korea
Steel imports in India from Russia
Steel HS Codes: 73044900 Steel HS Codes: 73269099
Steel HS Codes: 73181500
Steel Importer in India from Indonesia
Steel Importer in India from Argentina
Steel Importer in India from Chile
Export Import Data solutions is one of the best online import export websites in India that provides trade data services and trading business information. Currently, Export import data is the best import export data provider and market research companies in India.
Steel imports in India are primarily done from China, South Korea, Japan, Russia, and Indonesia.
Iron & steel, copper & alloys, silver, alluminium & scrap, nickel & alloys, ferro-alloys, and non-ferrous base metal scrap are the top metals imported in India.
Swatch Group India Pvt Ltd., Ford India Private Ltd., Parker Hannifin India Private Limited, V.K. Industrial Corporation Limited, and Tata Steel Limited are the top steel importers in India.
As per India steel import statistics, India imported 8.3 million metric tonnes (MT) of steel in FY24, up 38% annually, while exporting 7.4 MT, up 12%. This data clearly shows that India is a net importer of steel.
As per data on steel imports by country, China, South Korea, Japan, Russia, and Indonesia are the largest steel importing nations worldwide.
India, China, the European Union, and Belgium are the largest importers of stainless steel.
In 2023, India's imports of steel scrap for steelmaking increased threefold to around 9.8 million metric tons. Other metal scrap materials that are imported by India include aluminum, copper, nickel, tin, and zinc.
As per steel import data, China imported 2.7 million metric tonnes of steel in 2023-24, making it the largest importer of steel in the world.
