India's steel imports increase 51.6% in April
08/05/2015 14:44
India’s steel imports have increased 51.6 per cent to 0.76 million tonnes (MT) last month compared with the year-ago period, PTI reported.
"Import of total finished steel, at 0.761 MT in April 2015, saw a growth of 51.6 per cent over April 2014 and decline by 9.4 per cent over March 2015," PTI quoted a Steel Ministry official as saying this.
Commenting on the issue a steel company executive said,” Domestic steel industry is going through tough times, mainly due to a decline in demand in China, the world's largest steel producer. Importing steel from China was cheaper than producing it here and this led to imports, especially in the second half of 2014."
As per PTI report, steel imports grew 71 per cent to 9.321 MT in 2014-15, with India remaining a net importer in the previous fiscal. Imports in March 2015 rose 91.8 per cent to 0.84 MT, but down 14.8 per cent compared with February 2015. While steel exports in April was at 0.38 MT, down 15.2 per cent year-on-year.
08/05/2015 14:44
India’s steel imports have increased 51.6 per cent to 0.76 million tonnes (MT) last month compared with the year-ago period, PTI reported.
"Import of total finished steel, at 0.761 MT in April 2015, saw a growth of 51.6 per cent over April 2014 and decline by 9.4 per cent over March 2015," PTI quoted a Steel Ministry official as saying this.
Commenting on the issue a steel company executive said,” Domestic steel industry is going through tough times, mainly due to a decline in demand in China, the world's largest steel producer. Importing steel from China was cheaper than producing it here and this led to imports, especially in the second half of 2014."
As per PTI report, steel imports grew 71 per cent to 9.321 MT in 2014-15, with India remaining a net importer in the previous fiscal. Imports in March 2015 rose 91.8 per cent to 0.84 MT, but down 14.8 per cent compared with February 2015. While steel exports in April was at 0.38 MT, down 15.2 per cent year-on-year.
