India’s imports of semi-finished stainless steel, including flat and small billets, rose by 22% year-on-year in 2025, reaching 665,000 tons. The increase was largely driven by higher flat billet imports, which offset a sharp decline in small billet shipments.

Imports of stainless steel small billets fell to 46,000 tons in 2025, down 64% from 129,000 tons in 2024. Indonesia remained the largest supplier, although shipments from the country dropped from 128,000 tons in 2024 to 60,000 tons. India did not import any small billets from Indonesia in 2023, reflecting significant fluctuations in sourcing over the past three years.

Market analysts said the decline in small billet imports was mainly due to stronger domestic supply, cautious purchasing by steel mills, and shifts in overseas trade patterns.