With the growth of electric arc furnace steelmaking and the new energy industry, the needle coke market has broad prospects, especially driven by the demand for high-power graphite electrodes.

【International News】India Targets China with 12% Tariff on Steel Imports

According to Reuters, on April 21 local time, India, the world's second-largest crude steel producer, announced a 12% provisional tariff on certain imported steel products to curb cheap imports from China.

The report noted that this move marks India's first major trade policy shift since U.S. President Donald Trump imposed broad tariffs in April this year, initiating a trade war with China.

On April 26, 2024, in West Bengal, India, a steelworker carries forged steel products. —Reuters

According to the report, the Indian Ministry of Finance stated in an official order on April 21 that the tariff would take effect immediately and remain valid for 200 days, "unless revoked, superseded, or amended earlier."

H.D. Kumaraswamy, India's Minister of Steel, claimed in a statement that the measure is intended to protect domestic steel manufacturers from the adverse impact of surging imports and to ensure fair market competition. "This move will provide relief to domestic producers, especially small and medium-sized enterprises, which have been under immense pressure due to increased imports," he said.

Reuters reported that in recent years, the influx of Chinese steel has forced some Indian steel mills to scale down operations and consider layoffs. The Indian tariffs are primarily aimed at China, which became India's second-largest source of steel imports in the 2024/25 fiscal year, just behind South Korea. According to provisional government data, India has remained a net importer of finished steel for the second consecutive year in 2024/25.

An executive at a leading Indian steel company stated, "This decision was expected. We will now watch to see how it supports the industry and profits while restricting the influx of cheap imported products." He also claimed, "The whole world is directly or indirectly affected by Chinese imports."

The investigation behind this tariff policy reportedly began in December last year.

In September last year, India's Ministry of Finance announced a 12% to 30% tariff on welded stainless steel pipes imported from China and Vietnam, valid for five years. At that time, experts pointed out that although the measure could protect Indian steel companies in the short term, it could be detrimental to long-term industrial upgrading and development, as the fundamental issue lies in the lack of international competitiveness of the Indian steel industry. This, in turn, leads to insufficient motivation for technological advancement and improved management.

On March 7 this year, Chinese Foreign Minister Wang Yi, in response to questions from Chinese and foreign journalists regarding China's foreign policy and external relations, stated that China and India are important neighbors. China has always believed that the only correct choice for both sides is to become partners in mutual success and achieve "dragon-elephant dance" cooperation.

Wang emphasized that as the two largest developing countries, both sides share the common goal of accelerating national development and revitalization. Therefore, they should support each other instead of depleting one another, work closely rather than guard against each other. This, he said, aligns with the fundamental interests of both countries and their peoples.

Feel free to contact us anytime for more information about the EAF steelmaking market. Our team is dedicated to providing you with in-depth insights and customized assistance based on your needs. Whether you have questions about product specifications, market trends, or pricing, we are here to help.