EU to cut tariff-free steel imports to 18.3 mt (–47% vs 2024) and double out-of-quota duties to 50% from 2026; Carbon Border Adjustment Mechanism also adds cost pressure on Indian steel. EU = India’s largest steel market (~45% of exports); flat steel (97% of shipments) most affected by 12.8 mt quota, forcing exporters to seek alternative markets, more competition, lower prices.
Double whammy risk: EU quotas + Carbon Border Adjustment Mechanism constrain exports; potential trade diversion of 12 mt Asian steel to India may increase import competition and weigh on domestic prices. India’s safeguard duty: 12% provisional till Nov 2025; recommended phased 12% to 11.5% to 11% over three years. Industry says it’s insufficient vs 30–50% global tariffs, calls for stronger protection.
Domestic HRC prices down: Rs 51,050 – Rs 48,366 per tonne (Jun–Oct 2025); soft demand + rising imports (0.65 mt in Aug–Sep) may limit post-festive recovery. Industry urges decisive trade remedies to protect investments and strengthen the steel sector for India’s 2047 development goals.