Steel imports jump 69% in April-May to 1.53 mt
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India's steel imports jumped by 69% to 1.528 million tonne in the first two months of the fiscal due to firm demand from sectors like automobile, consumer durables and manufacturing.
"Despite the slowdown in domestic conditions in some of the end-use markets, demand remained firm from sectors like motor vehicles, transport equipment, basic goods, consumer durables and manufacturing," Joint Plant Committee (JPC) said in a recent note to the steel ministry.
"Given the relatively slow growth in supply conditions, present import growth may well be due to the combined demand impetus provided by these sectors," JPC, a steel ministry body which maintains non-partisan data-bank of the industry, said.