India’s finished steel imports up 3.5 per cent to 7.48 MT in FY’18

6th Aug 2018

Imports of finished steel saw a rise of 3.5 per cent in 2017-18 to 7.48 million tonne (MT) and overall inbound shipment was stable, Rajya Sabha was informed earlier in the week.

India imported 7.23 MT of finished steel in 2016-17.

“The imports of steel for the past two years — 2016-17 and 2017-18 — have been stable and there was a marginal increase of 3.5 per cent in finished steel imports in 2017-18 over 2016-17 levels,” Minister of State for Steel Vishnu Deo Sai told the House in a written reply.

He said the production of finished steel in the previous financial year stood at 92.35 MT as against 86.47 MT in 2016-17.

Of the 7.48 MT of finished steel imported in 2017-18, 1.84 MT was alloy and stainless steel while 5.63 MT was non alloy, the minister added.

Source: PTI