- Korea, China, Japan top 3 bulk exporters to India
- Steel ministry relaxes import norms for ISPs
India’s bulk hot-rolled coils (HRC) imports in July 2025 totalled 484,879 tonnes (t), a decline of 21% y-o-y from 611,778 t in July 2024, according to BigMint data. However, imports rose by 50% m-o-m against 322,329 t in June 2025.
In July, South Korea, China and Japan emerged as India’s top three bulk HRC exporters, shipping 186,617 t, 125,891 t and 124,698 t, respectively. Interestingly, while imports from South Korean rose by 18% y-o-y, Japan shipments dropped by 37% over the same period.
Indian mills have raised HRC prices for August 2025, which may further weigh on domestic market activity as buyers remain cautious and adopt a need-based approach amid stricter import quality regulations.
Exemption for integrated steel plants
India’s Ministry of Steel has exempted imported steel products of an intermediate nature with a bill of lading on or before 15 July, 2025, from mandatory BIS compliance. Integrated Steel Plants (ISPs) producing both intermediate and finished products are not required to have separate licenses for each stage, as the BIS certification process covers the entire manufacturing chain.
Background and implementation: This notification follows a stakeholder consultation held on 7 July, where the steel ministry and industry members discussed concerns regarding steel supply and standards. The ministry is considering a grace period to ensure no disruptions in clearing consignments and manufacturing activity, and has assured that the entire process for acquiring BIS licenses will take three to four months.
Verification and documentation: ISPs are required to email to the ministry with their operative BIS licenses and relevant documents, declaring their status as Integrated Steel Plants. After verification of such licenses by BIS, the mandatory adherence requirement of input steel for the final products supplied by ISPs shall be exempted.
SIMS update and compliance: The Steel Import Monitoring System (SIMS) will be updated with appropriate provisions for such ISPs. The ministry has warned that any misdeclaration could lead to debarment in the SIMS, emphasizing the importance of accurate documentation and compliance.
Export volumes surge y-o-y
On the export front, India’s bulk HRC export volumes hiked sharply by 83% y-o-y in July 2025 to 127,396 t compared to 69,532 t in July 2024. Meanwhile, volumes edged down by 8% m-o-m compared to 138,868 t in June 2025.
On a m-o-m basis, Indian steel exports remained subdued due to weak global demand, cautious buyer behaviour, and summer breaks in Europe. Moreover, India continues to withhold offers to the Middle East amid competitive Chinese offers and strong domestic realisation.
Outlook
The near-term outlook suggests a slowdown in bulk HRC imports as the market is expected to face a period of significant adjustment as it works to adhere to the new mandated norms, a process that could take some time to fully stabilise. While this shift is considered necessary, major importers like auto OEMs(Original Equipment Manufacturer) can expect to be significantly affected as the industry adjusts to the new mandated norms.
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