India’s bulk HRC imports drop 19% y-o-y in Jun’25

• South Korea, China, Vietnam top exporters to India
• India tightens quality control norms for steel imports

India’s bulk hot-rolled coils (HRC) imports in June 2025 totalled 322,329 tonnes (t), a drop of 19% y-o-y from 397,287 t in June 2024, according to BigMint data. Moreover, imports rose by 15.4% m-o-m against 279,250 t in May 2025.

In June, South Korea, China and Vietnam emerged as India’s top three bulk HRC exporters, shipping 172,373 t, 109,963 t and 27,000 t, respectively. Interestingly, while imports from South Korean dropped 3.3% y-o-y, Chinese shipments remained stable over the same period.

Indian mills have kept HRC prices unchanged for July 2025, which may further weigh on domestic market activity as buyers remain cautious and adopt a need-based approach amid stricter import quality regulations.

India tightens quality norms for imports

Effective from 16 June 2025, the Ministry of Steel has mandated that input materials used in imported steel and steel products must comply with Indian standards. This move reinforces the existing Quality Control Order (QCO), 2024, and applies to all steel imports requiring registration under the Steel Import Monitoring System (SIMS), aiming to strengthen quality compliance across the supply chain.

This new quality mandate is likely to impact import trends, as stricter compliance requirements may prompt a short-term adjustment phase for importers, potentially curbing import volumes initially.

Export volumes surge y-o-y

On the export front, India’s bulk HRC export volumes surged by 103% y-o-y in June 2025 to 138,868 t compared to 68,460 t in June 2024.

Meanwhile, volumes dropped marginally by 4% m-o-m compared to 144,093 t in May 2025. Indian mills have booked HRCs to Europe as export offers to EU dropped by $26/t to 565$/t in June as compared to 591$/t in May 2025. However, mills were not actively offering to the Middle East market due to competitive Chinese prices and geopolitical issues in the region.

Outlook

India’s HRC import market may stay slow as stricter import quality norms and steady domestic prices prompt cautious buying. Moreover, imports could dip short-term due to compliance adjustments, while exports face pressure amid strong overseas competition.