Impacted by US tariffs, Indian stainless steel companies turn to domestic market
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Update time : 2025-05-07 20:34:30
Indian stainless steel companies are shifting their focus to the domestic market to absorb capacity that was exported to the US. Although the US has suspended its reciprocal tariffs temporarily, previously announced steel and aluminum tariffs of 25% remain in effect.
Local manufacturer said the US import tariffs have created confusion for future trades. In addition, tariffs may change at any time, and the uncertainty leads to a lack of market confidence.
On the other hand, China, the world's largest steel producer, is likely to dump steel into the global market, posing a threat to the steel industry in various countries. The effects will be seen in the next three to four months.
One Indian steel mill pointed out that even in the face of price competition from China, Indian companies still have advantages because they can provide a large number of customized products and make extensive use of domestic raw materials.
India's domestic demand for stainless steel has been rising steadily, and its applications in railways and infrastructure have also expanded accordingly.
