Indian steel mills are likely to see a sharp drop in prices after U.S. import tariffs come into effect and reshape global trade of the alloy, potentially redirecting a glut of supply into the South Asian country,

Rows of small factories line the streets of a dusty suburb in Bengaluru, where workers weld and cast Indian-made steel into everything from car parts to kitchen sinks. Here, U.S. President Trump’s announcement to impose high trade tariffs on steel imports has some unexpected supporters.

Indian steel mills are bracing for a significant price drop as U.S. import tariffs on steel and aluminum take effect on March 12, reshaping global trade flows. SP Global estimates steel prices in India could decline

Ministry of Steel in India adopts "wait-and-watch" policy to assess Trump Tariffs impact, considering safeguard duties.

India's steel industry faces potential challenges and benefits as US tariffs on steel imports may lead to cheaper steel but also increase competition and environmental concerns.

A safeguard duty was expected in the first two weeks of February 2025, however the industry is still waiting for an announcement.