Huaxiao Metal Corporation Limited.

US Tariffs Led To The Surge Of Steel Products From Korea And Japan To India

Key words: Japan; Korea; iron and steel

A government document shows that India is under a wave of steel shocks from Japanese and Korean manufacturers. After U.S. President Trump imposed import tariffs on steel earlier this year, Japanese and South Korean steelmakers redirected their supplies to other destinations.

India's steel imports from South Korea and Japan surged 31% and 30% in the first quarter of the new fiscal year beginning in April, according to an internal document from the Ministry of Steel, seen by foreign media.
The minister, Chaudhary Birender Singh, told Reuters that the influx of steel was so huge that the Indian government was considering measures to control imports.

"Of course there will be some concern, so we will not hesitate to take some measures." Singh said in an interview.

According to the record, India became a net importer of steel from April to June, with 2.1 million tons of foreign supply, up 15% from the same period last year.

With this increase, India has now surpassed the United States to become the third largest steel market in South Korea, according to the Korea Iron Ore and Steel Association.
Related News
  • Stainless Steel Strip

    Stainless Steel Strip

    August 24, 2018Definition of stainless steel strip The stainless steel strip can be understood as an extended product of ultra-thin stainless steel plates. It is usually a long and narrow stainless steel strip that...view
  • Cold Rolled Stainless Steel

    Cold Rolled Stainless Steel

    July 4, 2018Cold-rolled stainless steel means cold-rolled steel, which is a steel plate produced through cold rolling.Cold rolling is the further reduction of a No. 1 steel sheet to a desired thickness at room te...view
  • Rose Gold Stainless Steel Overview

    Rose Gold Stainless Steel Overview

    January 25, 2019Rose gold plate, also known as rose gold stainless steel plate, or colored stainless steel rose gold plate, it is a new material. The manufacturing process is not simply a layer of colorant on the sur...view
  • China Stainless Steel Daily

    China Stainless Steel Daily

    March 28, 2018201 Cold Rolled: Stainless steel mills continue to maintain the price of yesterday. The mainstream market price in USD1280-1300/MT, Yesterday afternoon some mills pulled up slightly, but affected by t...view
  • The Global Demand For Steel Will Reach 16.161 Million Tons In 2018

    The Global Demand For Steel Will Reach 16.161 Million Tons In 2018

    May 7, 2018The World Steel Association recently released the results of short-term steel demand forecast in April 2018, which will reach 16.161 billion tons in 2018, up 1.8% from 2017. By 2019, global steel dema...view
  • G7 Conference US Treasury Secretary Was Isolated

    G7 Conference US Treasury Secretary Was Isolated

    June 5, 2018At present, the finance ministers and central bank governors meeting of the group of seven is being held in Whistler, Canada's ski resort. However, the atmosphere is not cool at all.It is reported tha...view
  • TEL:+86-21-54725826
  • FAX:+86-21-54717930
  • ADDRESS:Room 458, Building 8-9, NO.1500 South Lianhua Road, Shanghai, China.